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NBC's new core system

THE central bank has said it will introduce a new core banking system this month. Speaking at a conference on banking technology last week, National Bank of Cambodia (NBC) Director General Tal Nay Im said the bank was close to finishing upgrading its core system. This follows an announcement in June from California-based software giant Oracle that it had sold its Flexcube Core banking package to the NBC and microfinance organisation Prasac. The system allows banks to automate processes, including deposits, lending, foreign exchange, securities, fund transfers and asset management. Sim Senacheert, general manager of MFI Prasac, said Sunday his MFI put the US$1 million software into operation early last month.

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