Software supports BPM and SOA in banking operations.

Press Release Summary:



Enabling banks to standardize, transform, and optimize their business processes, FLEXCUBE® Universal Banking Solution (UBS) v10.0 has task-based user interface. It features BPEL integration, and contains wide range of web services to cover transactional and business process orchestration requirements. Leveraging Business Activity Monitoring technology, FLEXCUBE provides users with dashboards to measure process performance and identify bottlenecks.



Original Press Release:



i-flex Announces Major New Release of FLEXCUBE



New J2EE Based Solution Supports BPM and SOA, with Task-based UI, Web Services, and BPEL integration

BOSTON, Oct. 2 -- i-flex® solutions (Reuters: IFLX.BO & IFLX.NS), a leading provider of technology solutions to the global financial services industry, announced the launch of FLEXCUBE® Universal Banking Solution (UBS) Release 10.0 at Sibos in Boston, MA, USA. Sibos is the world's premier financial services event attracting the industry's leading figures and firms.

i-flex has invested the equivalent of more than 50,000 days of design and development to create the new functionality for FLEXCUBE UBS Release 10.0.

The release enables banks to standardize, transform and optimize their business processes. Banks can use FLEXCUBE to simplify and streamline processes, track and rapidly administer complex multi-step transactions, efficiently distribute workload by identifying bottlenecks and improve customer service by using predefined custom processes for different segments of customers.

FLEXCUBE Release 10.0 has a new, task-based User Interface on an agile J2EE-based architecture. It uses Business Process Execution Language (BPEL) and Business Activity Monitoring (BAM) technologies to provide powerful business process management capabilities to banks. The new release enables FLEXCUBE to participate in an SOA environment and contains a comprehensive and wide ranging set of Web Services to cover all transactional and business process orchestration requirements.

"Banks want to achieve competitive differentiation by developing innovative business offerings and to fine tune their processes based on insight and measurement. The release of FLEXCUBE enables banks to and accomplish this holistically," says Joseph John, Executive Vice President, Banking Products Division, i-flex solutions. "i-flex has made a strategic choice of adopting Oracle Fusion Middleware with complete SOA support enabling the adoption of open standards. We are continuously adding new functionality to meet evolving business needs and are excited about the value we provide to our customers."

The new User Interface (UI) provides high throughput via easy access to task-lists, customer profiles and transaction context. This supports configuration of screens without any impact to the underlying business logic that is exposed as Web Services. Leveraging BAM technology, FLEXCUBE provides users with dashboards to measure process performance and identify bottlenecks for process improvement. The product serves Governance and Risk & Compliance frameworks allowing institutions to be compliant with changing regulations, monitor fraud and manage their risks effectively.

This release preserves the rich business functionality that FLEXCUBE offers wholesale banks for their cash, trade, payments, treasury and lending and retail banks for their savings, deposits and loans businesses. Other key features of this new release include SWIFT 2007 enhancements, SwiftNET connectivity and comprehensive support for SEPA Payment Processing. FLEXCUBE, since the first release of the application in 1997, offers users the ability to configure new products without any software code change. It allows them to process these for multiple entities from a single-instance of the application installed in the bank.

i-flex solutions previously announced, i-flex Process Framework for Banking, a repository of banking processes developed based on i-flex's years of experience in working with over 765 financial institutions across over 130 countries. FLEXCUBE Universal Banking Solution implements these processes with executables built with Oracle BPEL Process Manager.

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

For more information on the press release, please contact:

Sunil Robert
i-flex solutions
Tel: +1-646-619-5482
Mobile: +1-646-642-3690
Email: Sunil.robert@iflexsolutions.com

Source: i-flex® solutions

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