Komercijalna Banka AD Skopje has entered into a partnership with Oracle to deploy its Oracle Banking Payments platform, targeting a modernisation of the bank’s payment infrastructure and digital service offerings.
The initiative is expected to streamline domestic and cross-border transaction processing while aligning with global regulatory frameworks.
The implementation of Oracle Banking Payments provides Komercijalna Banka with a unified payment hub, capable of supporting a range of payment types across both retail and corporate customer segments.
The system’s architecture is designed to process transactions in real time while ensuring compliance with international financial messaging standards including SWIFT and SEPA.
By leveraging the ISO 20022-compliant Oracle Banking Payments platform, the North Macedonia-based bank seeks to improve its operational efficiency and data consistency across payment messaging.
This alignment is anticipated to reduce technology costs and facilitate real-time processing of payment instructions through a standardised data structure, strengthening the bank’s ability to execute seamless international transactions.
Oracle’s solution incorporates integrated artificial intelligence-based analytics that allow banks to make informed decisions on transaction routing, service offerings, and customer engagement.
The platform supports straight-through processing, reducing the cost per transaction, and offers real-time visibility into cash positions and payment statuses.
To execute this transition, Komercijalna Banka will collaborate with Facilization, a firm based in Albania, which will assist in implementing the Oracle Banking Payments system. The deployment is part of the bank’s broader digital transformation agenda aimed at reinforcing its market position and catering to the evolving needs of its clients.
Oracle Banking Payments Cloud Service, the version adopted by Komercijalna Banka, is a cloud-native, subscription-based solution built on the ISO 20022 framework.
The service is regularly updated to reflect the latest scheme rulebooks and enables integration across various domestic and international payment networks. It also allows institutions to automate processing using a built-in rules engine and to extend capabilities via a library of over 1,800 APIs tailored for Oracle’s financial services suite.
In addition to transaction processing, the platform supports enterprise resource planning integration. It also accommodates digital assistant-based interactions through interfaces such as Siri and Alexa, opening avenues for banks to expand their digital ecosystems and deliver new services.
