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Oracle Financial Services Software Ltd. Company History and Annual Growth Details

- i-flex Solutions has announced that it will implement its FLEXCUBE Universal Banking Solution for TEBA Bank, Midland, South Africa, across all branches

This company was incorporated on September, 27, 1989 as Citicorp Information Technology Industries Ltd., or CITIL, under the Companies Act. On March 30,2000, this company renamed
themselves i-flex Solutions Limited in order to create an independent brand name and build on the success of FLEXCUBE, their flagship product brand.


-Enters into joint venture with EBZ Online, a software company, through which I-Flex's product, Flexcube, will be made available to cooperative banks

-Dotex International, a joint venture company supported by NSE.IT and i-flex Solutions Ltd, signs a memorandum of understanding (MoU) with BgSE Financials Ltd, a subsidiary of the Bangalore Stock Exchange, to give Internet trading service to the members of the exchange

-ChryosAS@P Services BV, an Amsterdam-based application services provider ,implements Flexcube@Broker developed by i-flex to provide a trading platform for security brokers to trade on the Euronext

-Company selected by NDB Bank, Colombo to provide banking solutions through its Flexcube corporate and retail products

-IPO floor price fixed at Rs 530

-Comes out with Initial Public Offering (IPO) with an issue of 3,961,700 equity shares, mops up Rs 220 crore

-Makes trading debut on BSE

-Aptech teams up with I-Flex Solutions Ltd. to enable its students to train on i-flex's proprietary banking product, FLEXCUBE, which is among the world's top-two largest selling wholesale back - office banking systems

-Company's mutual funds servicing solution FLEXCUBE Investor Services (FCIS) goes live at Shinsei Bank, Japan, replacing the existing legacy Japanese system

-Bags 2 contracts from Egyptian banks

-Company selected by German banking technology services provider, Bank-verlag Koln, to develop a Basel II compliant Internal Rating system

-Signs up with Bank du Caire of Egypt for installation of banking product FLEXCUBE

-i-flex, IBM jointly win Bharat Overseas Bank project to develop centralised banking solution

-North Carolina Department of State Treasurer (NCDST), USA, selects i-flex's flagship solution FLEXCUBE to replace its core banking legacy system

-Launches Reveleus, the Business Intelligence & Analytics Division

-i-flex and HP announce global alliance for hardware and software solutions to financial institutions

-International Monetary Fund (IMF), an international organization of 184 member countries, selects i-flex's flagship product FLEXCUBE to replace its legacy core banking application and operations infrastructure

-Interfin Merchant Bank of Zimbabwe Ltd goes live with FLEXCUBE as well as the FLEXCUBE Investor Services and FLEXCUBE Dealer modules at the bank

-Becomes the first Indian Software company to be certified according to SAS 70 audit standards

-i-flex voted as 'Best Newly Listed Company in India' in Asiamoney's Annual best Managed Companies Poll

-Opens its first Overseas Software Development Center in Singapore

-Hebros bank, amongst the top five banks in Bulgaria, selects i-flex's flagship product FLEXCUBE

-Banking and Payments Authority of Kosovo selects i-flex's FLEXCUBE


-Antwerp Diamond Bank, Mumbai goes live on FLEXCUBE

-i-flex Solutions - FLEXCUBE Payment Systems Module goes live at United Bank for Africa Plc., one of the leading banks in Nigeria

-Bags $200-mn contract from Citigroup

-Flexcube powered Client Level Asset Servicing (CLAS) System goes live at UBS Warburg, London

-First Banking Corporation of Zimbabwe selects Flexcube

-Flagship product FLEXCUBE ranked the world's No.1 selling Universal Banking Solution

-IMF Selects Reveleus for Critical Data Management and Business Intelligence Technology

-Sets up development centre in New York

-Hungarian Bank ( IC Bank Rt. Budapest) selects i-flex solutions to address growing technology needs

-FLEXCUBE selected as Core-Banking Solution for Kotak Mahindra Bank

-CEO of i-flex's Netherlands Subsidiary, Senthil Kumar, who is based in London, detained by the UK authorities on request from the Dutch authorities

-Court releases i-flex's Dutch arm CEO Senthil Kumar on bail

-Ranks No 1 pure Web-based cash management solutions provider by Celent Communications, US-based research and advisory firm for financial institutions

-Straight Through Processing Inc. chooses to implement FLEXCUBE and to provide it on an Application Services Provider (ASP) model to other banks in the Caribbean region

-InvestBank, UAE selects I-flex's flagship product Flexcube

-British court dismisses proceedings over Senthil Kumar

-Wins a major order from HypoVereinsbank Group (HVB Group), Germany

-Baiduri Bank Brunei chooses Flexcube as its new Core Banking System

-During the financial year 2002-03, Polaris, i-Flex and Infosys record the fastest topline growth among software companies

-ACCBank, Ireland, selects I-Flex Solutions' FLEXCUBE as its banking solution provider

-Egyptian American Bank (EAB) selects FLEXCUBE as its core-banking platform

-Board approves 1:1 Bonus issue

-Time Magazine recognizes CMD of i-flex Solutions (Rajesh Hukku) as one of the Tech leaders who survived the tech crash

-Bags order from Juniper Bank, a full service credit card issuer currently managing more than 525,000 accounts

-Board of Directors allot 3,73,37,500 Equity shares of face value of Rs 5/- each as fully paid Bonus Shares

-Inaugurates FLEXCUBE Support & PrimeSourcing Solutions Centre in London

-Dhanlaxmi Bank selects Flexcube for core banking operations

- Exhibits at world's premier financial services event Sibos 2003, being held at the Suntec City Exhibition Center in Singapore between October 20-24, 2003.

-Flexcube has been selected by the newly launched Asia Fund Services, a joint venture between Singapore's leading fund administrators Bermuda Trust and United Overseas Bank, one of Singapore's Leading banks.

-Inaugurated FLEXCUBE Support & PrimeSourcing Solutions Centre in London.

-The board approved the acquisition of SuperSolutions Corporation in an all cash deal of $11.5 million. The board of SuperSolutions Corporation has also approved the deal.

-Abu Dhabi Commercial Bank signs contract with i-flex Solutions for FLEXCUBE core banking system


-i-flex opens wholly-owned holding company in US, i-flex America, for carrying out all future acquisitions in the USA

-i-flex awarded Golden Peacock National Quality Award

-i-flex-FLEXCUBE sets a new record for scalability, demonstrates lowest total cost of ownership for large financial institute

- I-Flex Solutions ties up with Barbados-based FirstCaribbean International Bank on May 3, 2004, and latter will deploy 'Flexcube', the internet banking and e-finance platform of I-Flex Solutions

-i-flex Solutions said that its core banking solution Flexcube had won The Banker 'Core Banking Solution of the Year' and 'Application of the Year'' awards

-Chile's second-largest bank, Banco de Chile, has selected software designed by i-flex for its core retail banking system

-Nippon Shinko Implements I-flex Solutions's Flexcube

-YES Bank and I-flex solutions Ltd has signed Global Strategic Memorandum to collaborate on technology led innovations to enhance quality and efficiency in banking products and delivery processes

-i flex - Reveleus signs up North America's Mortgage lending leaders for advanced analytics

-i-Flex join hands with PeopleSoft to develop and market an integrated solution for the banking industry


- I-flex Solutions Ltd signs agreement with Ta Chong Bank, Taiwan on April 19, 2005 for implementation of the Company's FLEXCUBE and Reveleus TM software product suites at Ta Chong Bank.

- Enters into strategic alliance with Castek Software Inc., a Toronto based provider of insurance systems for the global Property & Casualty (P&C) insurance industry.

-I-flex solutions Ltd and EDB Business Partner ASA have entered into an agreement to jointly offer comprehensive retail banking solutions to financial institutions in the Nordic region


-i-flex Solutions - HSBC signs agreement for FLEXCUBE Investor Services Solution

-i-flex Solutions Ltd has informed that Oracle and i-flex Solutions has announced certification of i-flex applications with Oracle Application Server 10g, a component of Oracle Fusion Middleware.


- i-flex Solutions & Oracle Announce Certification of iflex's FLEXCUBE with Oracle Access Manager.

-i-flex Solutions - Equinox announces the Launch of iGPM - a Paperless Global Processing Model for Mortgage Bankers

-i-flex Solutions Launches FLEXCUBE Lending Suite


-i-flex Solutions Ltd has informed that the name of the Company has changed from 'i-flex solutions Ltd' to 'Oracle Financial Services Software Ltd'.


- Oracle Financial Services Software Ltd has has appointed Ms. Dorian Daley as an Additional Director of the Company.