Oracle Financial Services Software Limited (formerly called i-flex Solutions Limited BSE: 532466 ) is an IT solution provider to the banking industry. Oracle Financial Services is majority owned by Oracle Corporation. It claims to have more than 900 customers in over 135 countries.
CITIL started off with the universal banking product MicroBanker (which became successful in some english speaking parts of Africa and other developing regions over the next 3–4 years) and the retail banking product Finware. In the mid-90s, CITIL developed FLEXCUBE at its Bangalore development center after a significant development effort spanning more than 18 months. After the launch of FLEXCUBE, all of CITIL's transactional banking products were brought under a common brand umbrella.
CITIL changed its name to i-flex solutions to reflect its growing independence from Citicorp and to strengthen its FLEXCUBE brand. [3] The name CITIL also made the prospective client banks hesitant about trusting the company with their data, since the name alluded to a close link with Citibank which could be one of their competitors.
The first version of MicroBanker was created at COSL by Ravi Sankaran who migrated to Australia before CITIL was formed. COSL started selling MicroBanker to non-Citi banks in Africa. Ravi Apte the founder CEO of COSL decided to carve out CITIL to focus on non-Citi business. Because non-Citi was the primary target for MicroBanker, MicroBanker was moved to CITIL. Rajesh Hukku was in the United States managing COSL's business development in North America during the time CITIL was formed. It was Mr. Apte who decided to get Hukku back to India to head the newly formed CITIL.
More than 80 per cent consider a consumer lending and financing solution a focus area
for their banks
Bangalore - March 2, 2004- According to a sample survey conducted at i-flex's Financial
Leadership Summit more than 80 per cent of the respondents considered a consumer
lending and financing solution, that manages consumer loans, including those for
automobiles, recreational vehicles and home improvement, a focus area for their banks.
Fifty two per cent of the surveyed bankers said that intended to begin replacing their
legacy core banking systems that help banks manage everything from maintaining the
accounts of consumers to the most complex financial transactions.
Over 200 senior representatives from 68 financial institutions in 46 countries attended the
summit in Jaipur over two days - February 11 and 12, 2004. The Summit brought
together speakers from renowned research organizations like Gartner, Celent and City
Practitioners as well as i-flex's customers and alliance partners. Oracle was the lead
sponsor of the meet.
Sixty two per cent of the bankers preferred implementing an integrated solution from a
single vendor to replace legacy systems. Ranked high among their requirements for such
a solution were flexibility, agility and the ability to quickly address customer
requirements by introducing new products.
Over 50 per cent of bankers polled believed that their priority for 2004-05 was to
improve customer acquisition and retention. Implementing a CRM solution and providing
or enhancing an Internet-based self-service delivery channel would be the other
approaches to addressing the issue of customer acquisition and retention. Increasing
productivity, improving return on investment, reducing time to market for new products
& services, compliance with regulations were some of the other priorities mentioned.
Eighty per cent of the bankers were already using outsourced service providers as part of
their business strategy.
About i-flex solutions limited
i-flex solutions (Reuters: IFLX.BO & IFLX.NS) is a leader in providing IT solutions to
the financial services industry. It has serviced 450 customers in more than 100 countries.
i-flex offers a comprehensive range of products and customized services that enable
financial institutions to cut costs, respond rapidly to market needs, enhance customer
service levels, and mitigate risk.
i-flex's premier offering is FLEXCUBE, an end-to-end product suite for consumer,
corporate, investment and internet banking, asset management, and investor servicing.
International Banking Systems (IBS-UK) has ranked FLEXCUBE the No. 1 selling
Universal Banking Solution in the world for 2002 and 2003. Since its launch in 1997,
more than 170 financial institutions across over 75 countries have preferred FLEXCUBE.
i-flex has over 2,700 employees, with 11 development Centers in India, Singapore and
New York. The company provides sales, marketing and support in 19 overseas locations
and it has 4 subsidiaries (US, Netherlands, and Singapore). In addition, i-flex is
represented in over 55 countries through more than 26 corporate business partners. i-flex
also has strong alliance and implementation relationships with industry leaders Hewlett
Packard, IBM, Intel, Microsoft, Oracle, and Sun Microsystems.
Today's labor force is different. Supervisors must take responsibility for their own employee retention. If they don't, they could be left without enough good employees. A wise employer will learn how to attract and keep good employees, because in the long run, this workforce will make or break a company's reputation. What's Different?
New supervisors must be prepared to be collaborative, supportive, and nurturing of their people. The old style of "my-way-or-the-highway" style of management is a thing of the past. Most new supervisors need training to understand what it really takes to retain employees.
Employee retention involves being sensitive to people's needs and demonstrating the various strategies in the five families detailed in Roger Herman's classic book on employee retention, Keeping Good People.
Environmental
Relationship
Support
Growth
Compensation
CITIL started off with the universal banking product MicroBanker (which became successful in some english speaking parts of Africa and other developing regions over the next 3–4 years) and the retail banking product Finware. In the mid-90s, CITIL developed FLEXCUBE at its Bangalore development center after a significant development effort spanning more than 18 months. After the launch of FLEXCUBE, all of CITIL's transactional banking products were brought under a common brand umbrella.
CITIL changed its name to i-flex solutions to reflect its growing independence from Citicorp and to strengthen its FLEXCUBE brand. [3] The name CITIL also made the prospective client banks hesitant about trusting the company with their data, since the name alluded to a close link with Citibank which could be one of their competitors.
The first version of MicroBanker was created at COSL by Ravi Sankaran who migrated to Australia before CITIL was formed. COSL started selling MicroBanker to non-Citi banks in Africa. Ravi Apte the founder CEO of COSL decided to carve out CITIL to focus on non-Citi business. Because non-Citi was the primary target for MicroBanker, MicroBanker was moved to CITIL. Rajesh Hukku was in the United States managing COSL's business development in North America during the time CITIL was formed. It was Mr. Apte who decided to get Hukku back to India to head the newly formed CITIL.
More than 80 per cent consider a consumer lending and financing solution a focus area
for their banks
Bangalore - March 2, 2004- According to a sample survey conducted at i-flex's Financial
Leadership Summit more than 80 per cent of the respondents considered a consumer
lending and financing solution, that manages consumer loans, including those for
automobiles, recreational vehicles and home improvement, a focus area for their banks.
Fifty two per cent of the surveyed bankers said that intended to begin replacing their
legacy core banking systems that help banks manage everything from maintaining the
accounts of consumers to the most complex financial transactions.
Over 200 senior representatives from 68 financial institutions in 46 countries attended the
summit in Jaipur over two days - February 11 and 12, 2004. The Summit brought
together speakers from renowned research organizations like Gartner, Celent and City
Practitioners as well as i-flex's customers and alliance partners. Oracle was the lead
sponsor of the meet.
Sixty two per cent of the bankers preferred implementing an integrated solution from a
single vendor to replace legacy systems. Ranked high among their requirements for such
a solution were flexibility, agility and the ability to quickly address customer
requirements by introducing new products.
Over 50 per cent of bankers polled believed that their priority for 2004-05 was to
improve customer acquisition and retention. Implementing a CRM solution and providing
or enhancing an Internet-based self-service delivery channel would be the other
approaches to addressing the issue of customer acquisition and retention. Increasing
productivity, improving return on investment, reducing time to market for new products
& services, compliance with regulations were some of the other priorities mentioned.
Eighty per cent of the bankers were already using outsourced service providers as part of
their business strategy.
About i-flex solutions limited
i-flex solutions (Reuters: IFLX.BO & IFLX.NS) is a leader in providing IT solutions to
the financial services industry. It has serviced 450 customers in more than 100 countries.
i-flex offers a comprehensive range of products and customized services that enable
financial institutions to cut costs, respond rapidly to market needs, enhance customer
service levels, and mitigate risk.
i-flex's premier offering is FLEXCUBE, an end-to-end product suite for consumer,
corporate, investment and internet banking, asset management, and investor servicing.
International Banking Systems (IBS-UK) has ranked FLEXCUBE the No. 1 selling
Universal Banking Solution in the world for 2002 and 2003. Since its launch in 1997,
more than 170 financial institutions across over 75 countries have preferred FLEXCUBE.
i-flex has over 2,700 employees, with 11 development Centers in India, Singapore and
New York. The company provides sales, marketing and support in 19 overseas locations
and it has 4 subsidiaries (US, Netherlands, and Singapore). In addition, i-flex is
represented in over 55 countries through more than 26 corporate business partners. i-flex
also has strong alliance and implementation relationships with industry leaders Hewlett
Packard, IBM, Intel, Microsoft, Oracle, and Sun Microsystems.
Today's labor force is different. Supervisors must take responsibility for their own employee retention. If they don't, they could be left without enough good employees. A wise employer will learn how to attract and keep good employees, because in the long run, this workforce will make or break a company's reputation. What's Different?
New supervisors must be prepared to be collaborative, supportive, and nurturing of their people. The old style of "my-way-or-the-highway" style of management is a thing of the past. Most new supervisors need training to understand what it really takes to retain employees.
Employee retention involves being sensitive to people's needs and demonstrating the various strategies in the five families detailed in Roger Herman's classic book on employee retention, Keeping Good People.
Environmental
Relationship
Support
Growth
Compensation
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