Bank of London and The Middle East, a Shariah-compliant wholesale bank in the UK, has implemented Oracle Flexcube Private Banking, a platform including a wealth management portal, customer interaction tool and portfolio management capabilities provided by Oracle Financial Services Software.

Oracle Flexcube Private Banking was implemented in under four months and has been integrated with BLME’s existing Islamic banking back-office application for customer and account information.

WealthBriefing exclusively reported BLME’s launch of a private banking business in January this year. As part of the launch, Adrian Gayler was recruited from Merrill Lynch International Bank to become BLME’s head of private banking.

Oracle Financial Services Software is a majority owned subsidiary of California –based business technology firm Oracle.