i-flex solutions announces availability of FLEXCUBE® on Oracle 10g

Flexible, high performance computing for Financial Services Institutions

Mumbai, April 4, 2005: i-flex® solutions (Reuters: IFLX.BO/IFLX.NS), announced today that FLEXCUBE, the world’s no. 1 selling core banking solution*, is available on Oracle’s 10g infrastructure software, which has been designed specifically for grid computing.

FLEXCUBE, i-flex’s flagship product suite, will henceforth, run on Oracle Database 10g and Oracle Application Server 10g which support open standards and provide higher quality of service at lower cost of operation through a simpler, automated Data Center, with enhanced security and business continuity. i-flex, a leading provider of information technology solutions to the financial services industry worldwide, thus crosses another milestone in its mission to enable global financial institutions to excel through the use of IT.

"Financial institutions worldwide are operating in an increasingly competitive and volatile business environment. Faced with the challenges of complying with global and local industry regulations and protecting their data, these institutions depend heavily on technology", said N K Raman, Chief Operating Officer, i-flex solutions. "It is our continuing endeavor to support these institutions with superior and reliable technology solutions. The availability of FLEXCUBE on Oracle 10g will offer financial institutions the agility to respond to the fast-changing global business environment, while lowering their costs of operation and improving profitability."

"The global financial services sector, being complex and unpredictable as it is today, is most in need of a robust, low maintenance, high performance and high availability solutions, said Alan Payne, Vice-President, Financial Services Industry, Oracle Asia Pacific. "FLEXCUBE on 10g underscored Oracle and i-flex’s continuing commitment to provide best-in-class solutions to the financial services industry.

FLEXCUBE on Oracle 10g offers financial institutions greater flexibility and cost-effectiveness in aligning their IT resources with business priorities. The benefits to customers include:

• A self-managed database that will cut down on the time and resources invested in administering and managing IT systems by upto 50 % while assuring high performance and availability
• Application Server 10g will unleash the power of web- based technologies replacing legacy networks. Financial institutions will now be able to reduce the complexity of middleware
• Support of open standards and out-of-the box interoperability with numerous third-party applications and tools
• Ability to effortlessly scale up their IT infrastructure and respond to changing business requirements
• Ability to embrace service-oriented computing that opens up a plethora of channels for financial institutions to service their customers
• Cost-effective management of enterprise information while providing enhanced data security
• Maximum value from existing investments

About Oracle 10g:

Oracle Database 10g is the first database designed for enterprise grid computing, the most flexible and cost-effective way to manage enterprise information. It cuts costs of management while providing the highest possible quality of service. In addition to numerous quality and performance enhancements, Oracle Database 10 g significantly reduces the costs of managing the IT environment, with a simplified install, greatly reduced configuration and management requirements, automatic performance diagnosis and SQL tuning.

Oracle Application Server 10g is an integrated, standards-based application platform suite that enables organizations of all sizes to be more responsive to changing business requirements. It provides all the middleware services you need to deploy and manage applications and Web services, deliver personalized applications through enterprise portals and mobile devices provide real-time business intelligence integrate applications, and automate business processes. Support for open standards and out-of-the-box interoperability with hundreds of third party applications and tools enable companies to derive maximum value from their existing investments
Together, Oracle Application Server and Oracle Database deliver high levels of performance and availability for a broad range of information system requirements.

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