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Nippon Shinko Implements i-flex solution's FLEXCUBE

New bank to offer loans to small and mid-size businesses in Japan

Tokyo, June 23, 2004 – i-flex solutions (Reuters: IFLX.BO & IFLX.NS), a leading financial services solution provider announced that its FLEXCUBE product suite, a complete end-to-end application for the financial services industry, was launched in Nippon Shinko Bank Limited. The selection had been finalized in October 2003, and was activated as the bank’s main system.

The FLEXCUBE product suite was selected based upon its open, flexible architecture that meets the needs of de novo banks such as the Nippon Shinko Bank. FLEXCUBE allowed Nippon Shinko to expedite the start up of their technology infrastructure and quickly begin conducting their business of offering and servicing loans for medium to small businesses.

"The selection of FLEXCUBE’s scalable architecture was a strategic business decision," said Yukou Oana, President, Nippon Shinko Bank, "The technology will provide a solid base as we grow our business and services to meet the needs of the small and medium-sized companies in the market."

"We are honored to be picked as the technology provider for such an innovative banking venture in the Japanese financial services market," said Rajesh Hukku, Chairman and Managing Director, i-flex solutions. "We have architected our technology to provide immediate and future benefits to banks. " he continued
"The ease and speed of implementing FLEXCUBE’s open system provides both cost savings and a fast time to market, that banks are looking for today ."

FLEXCUBE’s recent history in the Japanese banking industry also includes Shinsei Bank, which implemented the core banking solution to significantly streamline their operational workflow and facilitate ease of operations. This latest FLEXCUBE installation in Nippon Shinko Bank is testament to the flexibility of the technology to meet the business requirements of the Japanese banks.