Accounting and Financial Software
Bank DnB NORD Selects FLEXCUBE as Core Banking Platform for Operations in Six European Countries
Share:
Denmark and Finland Operations Live on FLEXCUBE
MUMBAI, India, Oct. 2 / - i-flex® solutions (Reuters: IFLX.BO & IFLX.NS) announced today that Bank DnB NORD's Danish and Finnish operations are live on FLEXCUBE, its flagship product. DnB NORD is a joint venture between Oslo-based DnB NOR, Norway's largest financial services group, and NORD/LB, Norddeutsche Landesbank und Girocentrale, a leading universal bank in North Germany. The bank selected FLEXCUBE for its banking transformation initiative across Latvia, Lithuania, Estonia, Poland, Finland and Denmark. The FLEXCUBE implementation commenced late February this year, and Denmark and Finland were live by early July.
The transformation project spans the corporate and consumer business of DnB NORD, across multiple legal entities. A joint team from the bank and i-flex Consulting(TM) created a common business operating model across all countries and is now helping DnB NORD standardize its business structure and processes on FLEXCUBE for better operational efficiency.
Jan Kuhnel, COO Bank DnB NORD noted: "We are pleased that FLEXCUBE has gone live in a remarkably short time span - about 4 months - in Denmark and Finland. i-flex has demonstrated its ability to deliver solutions at aggressive timelines, and we're confident the transformation of our banking platforms in other countries will follow just as quickly. The ability to run multi-entity operations and the product's breadth of functionality to address the needs of our existing businesses and evolving demands shaped by future growth and shifting regulatory requirements were ideal credentials."
On partnering with DnB NORD, Joseph John, Executive Vice-President, Banking Products Division, i-flex solutions, stated: "We are delighted to be a partner of choice at DnB NORD to enable the banking transformation program. Encouraged by the success of going live with FLEXCUBE in the Nordics (Denmark and Finland) in an aggressive time frame, we are confident we will keep up the pace for FLEXCUBE going live across the rest of DnB NORD's countries of operation."
About i-flex solutions
i-flex® solutions (Reuters: IFLX.BO and IFLX.NS), majority owned by Oracle, is a world leader in providing IT solutions to the financial services industry, with more than 765 customers in over 130 countries. Its range of applications software, custom solutions and consulting services enable financial institutions to cut costs, respond rapidly to market needs, enhance customer service levels and mitigate risk.
Together, Oracle and i-flex solutions offer financial services institutions the world's most comprehensive banking applications and technology footprint to address the most complex IT and business requirements.
For more information, please visit: www.iflexsolutions.com
About DnB NORD
DnB NORD is a joint venture between Norwegian DnB NOR and German NORD/LB Norddeutsche Landeesbank, which started operations in January 2006. The new bank with subsidiaries and branches in Denmark, Estonia, Finland, Latvia, Lithuania and Poland profits from the two parent banks' expertise and strengths as well as their well-established infrastructure throughout the Baltic Sea region. With over 3,000 employees, 170 offices, in excess of 735695,000 customer and assets totaling EUR 7.62 billion, DnB NORD is a significant player in North-Eastern Europe.
For more information, please visit: www.dnbnord.com
For more information on the press release, please contact:
Louis Jude
i-flex solutions
Phone: +44 207 531 4405
Mobile: +44 784 115 1273
E-mail: jude.louis@iflexsolutions.com
Dean Clother-Sinclair / Nicola Marshall
The Communication Group plc
Phone: +44 (0) 207 630 1411
E-mail: dclother-sinclair@thecommunicationgroup.co.uk;
nmarshall@thecommunicationgroup.co.uk
Source: i-flex® solutions
