Mumbai: Software services provider i-flex Solutions Wednesday said it has signed an argument with Munich -based IZB Informatik-Zentrum to deliver banking application services to German banks.
Pursuant to the strategic pact signed, IZB Informatik -Zentrum would be using FLEXCUBE, i-flex’s flagship product, to deliver value-added application providing services (ASP) tailored for the specific needs of German banks, i-flex said in a communique to the Bombay Stock Exchange.
The company and IZB Informatik-Zentrum would deliver banking application services, including core banking, lending, risk and internet banking functions to private and public banks throughout Germany as per the German banking regulations, i-flex informed.
“Partnering with IZB Informatik-Zentrum gives us access to a huge share of the German banking market, reinforcing our investment and commitment to the largest banking market in Europe,” i-flex Solutions b.v. CEO Oliver Trancart said.
Also, it offers banks the unique possibility to get a wide range of services, from solution outlining and implementation to application service and maintenance out from a single source using FLEXCUBE, Trancart added.
The announcement comes in the backdrop of banks and financial institutions in Germany looking to outsource their IT infrastructure and maintenance so that they are able to focus on their core business functions. Thus servicing their end-customers more efficiently, while reducing their overall operational costs.