RAKBANK Selects Oracle Fusion Cloud Applications Suite to Enhance Business Processes

RAKBANK has selected Oracle's Fusion Cloud Applications Suite to modernise its business processes, deploying the platform's embedded AI capabilities across finance, human resources, and supply chain operations.

Announced at GITEX 2024, the implementation will replace legacy enterprise systems with Oracle's cloud-native platform, giving RAKBANK access to automated workflows, predictive analytics, and AI-driven decision support across its back-office operations. The bank said the move is designed to improve efficiency and reduce the manual processes that slow down internal operations.

The Oracle Fusion Cloud suite covers enterprise resource planning, human capital management, and procurement functions. For RAKBANK, the embedded AI capabilities are particularly significant, offering the ability to automate routine tasks such as invoice processing, employee onboarding, and vendor management without requiring separate AI tooling.

RAKBANK, one of the UAE's mid-tier banks focused on retail and SME banking, has been investing in its technology infrastructure as part of a broader modernisation programme. The Oracle deployment addresses the enterprise systems that support the bank's operations rather than its customer-facing banking platforms, reflecting a recognition that back-office efficiency is as important as front-office digital experiences.

Oracle has been building a significant presence in the Gulf banking market, with multiple UAE banks selecting its cloud platforms for both core banking and enterprise applications. The GITEX announcement added RAKBANK to Oracle's growing roster of regional financial services clients.