i-flex solutions announces comprehensive solution alliance with eFunds

i-flex Solutions Ltd on November 15, 2006 has announced that its flagship core banking product, FLEXCUBE®, has completed a certification from Chex Systems, Inc., to include functionality for the ChexSystemsSM product suite. This integration enables the Company to provide banks and credit unions a seamless, easy-to-use solution to help protect their members against increasing attempts at identification theft and fraudulent activity in today’s business environment.

Designed to provide stringent identity verification, risk assessment and decisioning during the new account opening process, FLEXCUBE users can access the ID Verification, QualiFile®, OFAC Watch and New Account ChexSM services through an integrated, single point interface thereby eliminating redundant data entry and minimizing errors. FLEXCUBE Core Banking and Internet banking solutions offer state-of-the-art online real time consumer screening and identity verification by facilitating access to more than 23 billion records from leading data sources. The solution also offers banks and financial institutions the ability to target and open accounts across different consumer segments using customizable scoring provided by the QualiFile service. Additionally, these services assist banks and credit unions in complying with sections 326 and 314(a) of the USA PATRIOT Act, as well as OFAC regulations.

"This new relationship extends FLEXCUBE’s capability to manage suspicious transactions on a real-time basis and enables customers to originate online accounts across multiple touch points in a seamless and automated manner" said George Thomas, VP - Customer Fulfilment and Solution Architecture, of the Company. "A clean and safe customer experience is the tipping point for success in the increasingly competitive banking industry".

Source : Equity Bulls

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