i-flex Solutions & Oracle Announce Full Oracle Stack Support for IBM System z Mainframe Platform

i-flex Solutions Ltd has announced that Oracle and the Company on June 28, 2007 announced general availability of i-flex’s FLEXCUBE for Corebanking on the IBM System z mainframe, running on Linux with the Oracle infrastructure software stack - including Oracle® Database and Oracle Application Server. By supporting IBM System z mainframe, Oracle and the Company provide banks, running critical core business applications on the mainframe, new flexibility to take advantage of industry-leading the Company and Oracle technology.

This offering, which delivers the enhanced reliability, agility and security that the banking industry requires, builds on the October 2006 Oracle, the Company and IBM announcement of an agreement to provide joint banking customers with cohesive infrastructure, services and support for enterprise applications, core banking and risk management. Expanding on customer options, FLEXCUBE for Corebanking is also compatible with IBM System z mainframe operating systems.

"Financial institutions are balancing requirements to control global costs while enhancing responsiveness to rapidly capitalize on new growth opportunities," said Rajesh Hukku, Senior Vice President and General Manager, Oracle Financial Services Global Business Unit and Chairman at the Company. "Oracle's increased leverage of the i-flex core banking applications to provide support for zLinux reflects the Company's commitment to provide financial services Companies with applications and additional mainframe options that help accelerate development of new products and services while and enhancing the value of existing systems."

The stock closed the day at Rs.2538.70, down by Rs.28 or 1.09%. The stock hit an intraday high of Rs.2598.80 and low of Rs.2520. The total traded quantity was 28053 compared to 2 week average of 37072.

Source : Equity Bulls

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