Advertisment

Flexing its Way Through

author-image
DQI Bureau
New Update

Joseph John, head of the banking products division at iFlex Solutions was in

Delhi recently to accept the Runners-up Award for Excellence in Electronics,

2000-01. He spoke to Dataquest about Flexcube and the banking vertical, which

accounts for nearly 60% of the company’s overall revenues

Advertisment

You have a presence in 41 countries, but you are still exploring new

geographies. What’s behind this move?




It is only now that we are entering the US, which we could not earlier, being
part of Citigroup. As per regulation K, an organization like Citi with diverse

interests (in our case banking software) could not operate in that particular

segment in the US, except for servicing the parent organization itself. The

regulation was lifted last year. Our biggest win in the US market has been IMF.

IMF is currently using Flexcube as a centralized application. Apart from IMF, we

have North Carolina District State Territory (NCDST) and the Bank of Baroda in

New York.

How long does a Flexcube installation take?



The duration naturally depends on the size of the installation. The first

branch is always the most difficult to do. Subsequent rollouts are smooth.

Does Flexcube offer multi-lingual support?



Yes, we do support languages like Portugese and Arabic. And the choice of

using of multiple languages lies with the user. Among two users in the same

bank, one could use Portugese and the other-English by just changing settings.

No rewriting of code is required. However, we have not ventured into Indian

languages. But in order to be able to enable the use of Indian languages, some

support needs to come from the OS too.

Advertisment

What are the hurdles in the ‘e-revolution’ of Indian banking?



The last few years have given an impetus to e-banking. Earlier, IT was

restricted to computerizing branches, but now, real automation has begun.

Security is one of the key areas on which laws are required in the Indian

context. At least on the retail side, e-banking is widely used.

What delays automation in public sector banks?



Decision-making is certainly an issue in the public sector. However, in the

past two years, several public sector banks have initiated the process of

change. Automation in the banking sector is now a question of survival. Our

clients include Syndicate Bank and Bharat Overseas Bank.

Manjiri Kalghatgi in New Delhi

Advertisment