i-flex chose by Islamic Bank of Asia

i-flex Solutions Ltd on November 02, 2007 announced that The Islamic Bank of Asia (IB Asia) will be implementing i-flex's FLEXCUBE® Islamic Banking Suite as the Core Banking Solution for its operations.

DBS Bank and leading investors from the Gulf Co-operation Council launched IB Asia, Singapore's first Islamic Bank, in May 2007. IB Asia focuses on commercial banking, corporate finance, capital markets and private banking services. FLEXCUBE Islamic Banking Suite will provide the bank a Shariah Compliant, New Generation Core Banking Solution, which will automate the transaction processing function of the bank.

FLEXCUBE will provide IB Asia the advantage of a highly customer-centric solution, with sophisticated functionality, enabling faster response to customer needs and a single view of the customer across businesses.

Expressing his delight at the win, Kishore Kapoor, CEO, i-flex solutions pte ltd says, "We are proud to be the platform of choice for an institution like IB Asia with its powerful lineage of investors. Being a conventional banking platform leader, i-flex saw the Islamic wave early on and made a strategic investment in developing a truly global Islamic Banking Solution, which has the required depth in Islamic Banking functionality, the breadth of expertise gained from implementing core banking solutions across 120+ countries, plus the technology capability to serve Islamic banks in the future."

FLEXCUBE Islamic Banking Suite counts some of the leading Islamic Banks among its customers such as Shamil Bank, Dubai Islamic Bank, Sakana Housing Finance in Middle East and Asian Finance Bank Berhad in Malaysia.