Oracle FLEXCUBE on Managed Cloud Services will provide Hampden & Co. with digital banking platform
A British private bank set to open in the next few months has chosen Oracle’s managed cloud services to provide the digital banking platform.
Oracle’s FLEXCUBE on Managed Cloud Services will be the brawn behind the brains at Hampden & Co., a UK private bank set to open in the first quarter of 2015.
Oracle’s UK data centre
Oracle’s FLEXCUBE services will be delivered via Oracle’s UK data centre based in Linlithgow, Scotland.
“The UK’s high net worth sector has grown steadily over the past few years – even during tough economic times – which has created a growing demand for private banking services,” said Graeme Hartop, CEO, Hampden & Co.
“Increasingly, private banks are focusing on wealth management rather than core banking, a gap in the market which we seek to address with the help of Oracle. We view delivery of outstanding client service as a priority, which in today’s world needs to be supported by the best technological core banking platform available.”
Hampden, which has been setting itself up since 2010, will be the first banking customer to benefit from Oracle’s own data centre.
“Hampden & Co. joins the Oracle family as the first UK bank to leverage core business cloud applications delivered from Oracle’s UK cloud facilities,” said Senthil Kumar, vice president, business development, Oracle Financial Services.
“The leadership team at Hampden & Co. have done a remarkable job in completing their mobilisation phase on time and readying the bank for business. We are pleased to be serving this new UK private bank that has placed Oracle at heart of its business model.”
Are you a startup and investments guru? Take our quiz here!