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i-flex Extends Its Reach with New International Customers
Momentum is building around the world for i-flex solutions, developer of the FLEXCUBE suite of banking applications. This summer the company announced that the Development Bank of Mauritius and the Philippine National Bank (PNB), that nation's fourth largest bank, had selected FLEXCUBE for their core banking operations.
FLEXCUBE provides a transaction-processing platform for retail, corporate, and private banking operations.
Other recent wins include the Hong Kong and Shanghai Banking Corporation (HSBC), which signed an agreement in July to use FLEXCUBE Investor Services for the bank's transfer agency (TA) and investor-servicing businesses. Earlier in June i-flex added the East African Development Bank, Imperial Bank, Kenya, and United Bank, Ethiopia, to the FLEXCUBE roster.
In Latin America, the three Chilean banks—Banco del Desarrollo, Banco Security, and Banco Internacional—became FLEXCUBE users this year. In the U.S., Wachovia Corp., the country's fourth-largest bank-holding company, selected i-flex's Reveleus Basel II to provide a prepackaged solution for computing regulatory capital based on the advanced internal ratings approach of the Basel II accord.
Earlier, Wells Fargo N. A. selected the Reveleus Basel II solution for its credit capital calculation application for Basel II. The application gives Wells Fargo rules, computation tools, business definitions, and underlying data structures to support computations according to the Advanced Internal Ratings–Based Approach of the Basel II Accord.
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