i-flex Solutions & IZB Informatik-Zentrum Partner to Deliver ASP Services for German Banks Using FLEXCUBE

i-flex Solutions Ltd has informed BSE that the Company and IZB Informatik-Zentrum, a Munich-based IT- and telecommunication service provider for the financial sector, on November 21, 2007 announced a strategic partnership to deliver a full range of banking application services to German banks. To this end, IZB Informatik-Zentrum will be using FLEXCUBE®, i-flex's flagship product, to deliver value-added application providing services (ASP) tailored to the specific needs of German banks.

IZB Informatik-Zentrum is a subsidiary of Sparkassen Informatik, Frankfurt, the leading IT service provider for savings banks in Germany and one of the largest IT service providers in Europe. Through the partnership, i-flex and IZB Informatik-Zentrum will deliver banking application services, including core banking, lending, risk and internet banking functions as well as the integration and allocation of specific German banking services according to German banking regulations, to private and public banks throughout Germany.

This announcement comes in the backdrop of banks and financial institutions in Germany looking to outsource their IT infrastructure and maintenance. By opting for banking services delivered on an ASP model, these institutions will be able to focus on their core business functions, thus servicing their end-customers more efficiently, while reducing their overall operational costs.

Oliver Trancart, CEO of i-flex solutions b.v., highlighted the importance of this partnership: "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. 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. It also considerably enriches our experience of the German market, helping augment our knowledge of highly specific regional requirements."