Oracle Financial Services Analytical Applications (OFSAA)-Financial Crime and Compliance Management (FCCM) solution successfully goes live at Cooperative Bank of Oromia (Coopbank) in Ethiopia, according to JMR Infotech, an Indian provider of digital transformation and banking technology solutions on Monday.
The implementation is a major step forward in Coopbank’s efforts to improve its risk management, bolster its technological infrastructure for long-term growth, and bolster its compliance capabilities.
Through this deployment, the bank has established an enterprise-wide compliance framework that enables enhanced anti-money laundering (AML) operations, real-time risk monitoring, enhanced data security, and more efficient regulatory compliance.
Boost fraud prevention
As part of the project, over 14 million customer records were validated and processed, which strengthened fraud prevention and made operations more dependable.
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Jayafar Moidu, Founder and Chief Executive Officer of JMR Infotech, said, “This go-live represents more than a successful deployment, it is a powerful example of how strategic partnerships can reshape compliance landscapes. Coopbank’s vision, Oracle’s innovation, and JMR Infotech’s execution excellence came together to create a scalable solution that not only strengthens AML and risk capabilities today, but also supports the bank’s digital evolution for tomorrow.”
Shimelis Legesse, Chief Information Officer of Cooperative Bank of Oromia, commented, “This implementation marks a major milestone in our compliance transformation journey. The solution empowers us to manage financial crime risks at scale, while enhancing the trust and security we provide to our customers.”
The go-live demonstrates JMR Infotech’s commitment to offering financial institutions technology-driven, scalable compliance solutions that support their adaptability to changing operational and regulatory demands.
About JMR Infotech
JMR Infotech is a leading worldwide provider of technology solutions with a focus on providing businesses, government organisations, and financial institutions with end-to-end digital transformation.
In addition to providing proprietary IP-based platforms like LivEzy, which are intended to support integrated ecosystems for payments, banking, commerce, and e-government services, it is one of Oracle’s top partners for its Financial Services solutions.
Core banking modernisation, regulatory compliance, customer experience platforms, government resource planning solutions, advanced analytics, and AI-powered engagement are all areas of expertise for JMR Infotech.
It is dedicated to establishing reliable alliances and providing creative, scalable, and locally relevant solutions that promote effectiveness, transparency, and inclusive growth. It has a presence in more than 75 countries and has completed more than 400 turnkey projects.
About Cooperative Bank of Oromia
On October 29, 2004, Cooperative Bank of Oromia (S.C.) obtained a commercial registration in compliance with Article 304 of the Ethiopian Commercial Code.
It was founded with a 300 million birr authorised capital in accordance with Proclamation No. 84/1994. With 112 million birr in paid-up share capital, it began operations on March 8, 2005.
With a focus on cooperatives and agro-based enterprises, it establishes its foundation in local communities to offer banking solutions that enhance the customer experience by utilising modern technologies and human resources effectively to optimise the value for all stakeholders.