NEW YORK and MUMBAI, India, Jan. 30 /PRNewswire/ -- i-flex solutions, a leading provider of IT solutions to the global financial services industry, today announced that both its lead offerings, FLEXCUBE Universal Banking Solution and FLEXCUBE for Core Banking for Large Retail Operations have been included in Gartner's Magic Quadrant for International Retail Core Banking, 2006.
Inclusion Criteria
According to the Gartner report, "there were 31 initial combinations of software vendors and products for the IRCB Magic Quadrant; 18 finalists were selected for inclusion. The selection criteria served to cull vendor products that possessed sufficient market traction and momentum, supported basic retail functionality and international support, and provided evidence of short-term viability."
Commenting on this position, N K Raman, Chief Operating Officer of i-flex solutions said, "We owe this placement to our customers in 104 countries who engaged with us over the last decade to unfold the vision behind FLEXCUBE and enable the successful execution of Core Banking Projects. We are happy to be included in this report and to share our knowledge with prospective customers as an industry leader providing solutions for Core Banking, Lending, Risk, Compliance and Governance."
Magic Quadrant Disclaimer
The Magic Quadrant is copyrighted (25 January 2007) by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About i-flex solutions
i-flex(R) solutions (Reuters: IFLX.BO and IFLX.NS) is a world leader in providing IT solutions to the financial services industry, with more than 720 customers in over 120 countries. Its range of products, custom solutions and consulting services enable financial institutions to cut costs, respond rapidly to market needs, enhance customer service levels and mitigate risk. Oracle Corporation holds a majority stake in i-flex solutions. The strategic relationship with Oracle provides financial institutions around the world with an unmatched, comprehensive and integrated suite of solutions.
About FLEXCUBE
The i-flex portfolio includes FLEXCUBE(R), a complete banking product suite for retail, consumer, corporate, investment and internet banking, and asset management and investor servicing. Since its launch in 1997, more than 300 financial institutions in over 100 countries have chosen FLEXCUBE. FLEXCUBE has been ranked the world's No. 1 selling core banking solution for four consecutive years--2002, 2003, 2004 and 2005--by the UK-based International Banking Systems (IBS).
i-flex solutions
