Heartland Bank, a specialist financial services provider offering banking and lending services in niche consumer, business and rural sectors across New Zealand, has selected Oracle’s suite of banking products – a comprehensive, pre-integrated suite that enables the Bank to remove complexity and cost and allow it to focus on strategy and innovation.
Heartland Bank has developed a strategic and proactive approach to IT and is rationalising its infrastructure in order to drive efficiencies, deliver a broader range of products and services to its customers and better outcomes for shareholders. As part of a broader business transformation, the applications and technology from Oracle products allows Heartland Bank to remain flexible and improve agility within its diversified business model so it can respond quickly to market changes and customer needs.
James Mitchell, Chief Operating Officer, Heartland Bank, said, “The fast growth and success of our business is based on our unique approach to the market and the ability to give our customers the unique products they need in a timely fashion. We’re a niche player by choice, with a strong emphasis on new product development. Responsiveness and agility are critical to our success, while continuing to reduce operational costs. We chose the Oracle suite of banking products because it is tried and tested with big, global banking organisations, yet it is scalable enough to meet our needs as a smaller local player looking to grow.”
Oracle FLEXCUBE and Oracle Financial Services Lending and Leasing applications allows high flexibility through Heartland Bank’s product offerings and processes, without the Bank’s IT team being required to do further development and customisation of software. The bank is thereby able to deliver innovative and tailored products and services to market at a lower cost and faster than ever before. The business is then able to keep its focus on transformation and the customer experience versus IT.
The Oracle banking products provide Heartland Bank with comprehensive capabilities in niche areas such as intermediary-introduced lending channels. This enables Heartland Bank to further differentiate itself by meeting the specific financial and lending needs of niche markets such as motor vehicle finance, livestock finance and home equity loans.
“Oracle’s investments in R&D allows a company like us to compete and invest in the market because it gives us world-class, best-of-breed capability on New Zealand terms. Throughout our engagement, Oracle has come to understand our business aspirations; giving us a high level of trust in the relationship and complete confidence that they will continue to help us achieve our strategic business goals.” Mr Mitchell added.
“As the banking industry continues to experience unprecedented changes, Heartland Bank need access to proven, secured, scalable, flexible solutions that provide immediate value, and bringing the customer to the core of the process,” said Venky Srinivasan, Vice President Japan and APAC, Oracle Financial Services. “Oracle’s suite of banking applications are designed to reduce operational costs, manage risk more effectively and simplify processes, while enhancing the customer experience. We are pleased to be a partner to Heartland Bank and assist in meeting its business objectives, while delivering a scalable, secure platform to support future growth.”