IBM, Oracle & i-flex Solutions to Collaborate on Banking Solutions

i-flex Solutions Ltd has announced that IBM, Oracle and the Company on October 11, 2006 said that the Companies will collaborate to provide joint banking customers with infrastructure, services, and support for enterprise applications, core banking, and risk management.

The banking collaboration will combine the business and IT architectural leadership of IBM in banks, banking-specific application solutions from Oracle®, and core banking and risk solutions from the Company. This combination can help banks today, using proven, market-leading solutions in CRM, Core Transaction Processing, Risk, Analytics and Corporate Operations to translate a bank's business strategies into execution in a timely and effective manner.

With today's news, the Companies announced the launch of Company's powerful retail banking product, FLEXCUBE, on the IBM System z mainframe platform, delivering world-class performance, reliability and security banks require. Under the Companies' banking alliance, IBM plans to expand its services with Oracle and the Company to help ensure unparalleled integration and support for IBM platforms.

"The collaboration represents a unique combination of leading companies to provide a comprehensive and total solution for top tier banks to migrate to the integrated banking applications and platforms of the future," said R Ravisankar, CEO, International Operations and Business Development, of the Company. "IBM's proven ability to manage complex systems integration, their experience i-flex applications and phased and evolutionary migration will ensure minimal disruption risk."

The three Companies share a common vision of the competitive differentiators in banking where institutions must:

- Proactively service their customers in a consistent manner through all delivery channels

- Rapidly configure, bundle, and price product offerings to respond to market opportunities

- Instantly leverage the terabytes of information about clients and markets to manage risk, ensure compliance and define profitability.

Source : Equity Bulls

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