The Hindu Business Line : i-flex wins German bank order

BANGALORE: i-flex Solutions on Wednesday announced that it had won a major order from HypoVereinsbank Group (HVB Group), one among the top five European banks.

HVB Group would implement i-flex's core banking solution Flexcube to replace a number of its existing back office systems over the next few years, said a press release here.

However, the company did not disclose the size of the order but said Flexcube would be implemented in up to 50 HVB Group subsidiaries worldwide.

With the agreement, i-flex gains important momentum in Germany and across Europe for Flexcube. The rollout of Flexcube will help improve customer service and streamline the group's core business of providing banking and financial services to retail and midsize corporate customers.

The rollout begins in Germany and will expand internationally over the course of the coming year. The project has been started at Financial Markets Services Bank (FMSB) in Munich, where a "go-live" is planned for the end of the 2003.

"Winning such a market leader in the heart of Europe is a significant strategic landmark for i-flex," said Mr Rajesh Hukku, Chairman and Managing Director, i-flex Solutions.

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