i-flex Launches FLEXCUBE Private Banking Suite

Mumbai, December 17, 2007: i-flex® solutions (Reuters: IFLX.BO & IFLX.NS), a world leader in providing IT solutions to the financial services industry, today announced its entry into the Private Banking and Wealth Management space with the launch of FLEXCUBE® Private Banking Suite. The solution is easy-to-integrate with existing back office applications and cost effective for banks and financial institutions.

The solution today supports the entire lifecycle of Customer Management, Transaction Management and Portfolio Management functions for the Mass Affluent and High Net Worth segment of the bank's domestic business. The solution also has a comprehensive reporting, risk and core function engine.

With booming markets, especially in Asia, Central and Eastern Europe and Latin America, and the number of high net worth individuals rising, banks and financial institutions are working to create more sophisticated and personalized offerings to address the needs of this demanding and highly profitable customer segment.

"The FLEXCUBE Private Banking Suite enables institutions deploy holistic wealth management offerings that provide competitive differentiation and improve their share of the customer's wallet. The solution empowers institutions to shift their approach from a "one size fits all" to a personalized model. It will also help them reduce costs by giving them the ability to retire standalone wealth management solutions," says N.R.K. Raman, Managing Director and CEO, i-flex solutions.

The FLEXCUBE Private Banking Suite provides financial institutions and their customers a unified view of customer wealth across their portfolios, including the ability to consolidate the holdings of a family. It enables financial institutions and their customers manage multiple asset classes including equity, mutual funds, bonds, structured products, real estate and commodities, whether held within the bank or with other external institutions. The solution uses open standards and offers quick and easy integration with product processors, core banking, CRM and other back office systems.

Banks can offer wealth management services tailored and personalized to the specific risk profiles of their customers. In addition, the FLEXCUBE Private Banking Suite's well designed and flexible architecture enables institutions respond rapidly and nimbly to changing market conditions. The solution's agile J2EE architecture provides robust security, high performance, high availability, high scalability and easy extension for bank-specific customizations.

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 775 customers in over 130 countries. Its strategy for financial services addresses the challenges that financial services institutions are faced with today. 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 complex IT and business requirements.

For more information on the press release, please contact:

Eapen Thomas
i-flex solutions
Phone: +91-22-6718 5132
Fax: +91-22-2823 5231
E-mail: eapen.thomas@iflexsolutions.com

More from Electronic Components & Devices

All Topics