- ESAF Small Finance Bank has transitioned to Oracle Flexcube as its new core banking solution, replacing the previous system, Profile by FIS, which it used since 2017.
- FIS Profile was an outsourced solution targeting small and mid-sized Indian financial institutions, including ESAF and Bandhan Bank, which also switched to Flexcube earlier in 2023.
- Flexcube offers over 1600 RESTful services and an embedded machine-learning framework to support core banking functions like account management, transaction processing, and loan disbursement.
- ESAF, initially founded as a non-government organization (NGO), focuses on serving the underserved communities in India, particularly those at “the bottom of the pyramid.”
- The bank operates in 23 Indian states, serving 5.6 million customers and providing a range of banking services including accounts, lending, pension schemes, and instant payments via the Unified Payments Interface (UPI).
ESAF Small Finance Bank replaces FIS’ Profile with Oracle Flexcube as new banking core
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