i-flex Solutions Re-affirms its Commitment to the Egyptian Financial Services Industry

i-flex Solutions Ltd has announced that the Company re-affirmed its commitment to the Egyptian financial services industry. As i-flex builds on its long, successful partnership with the Egyptian financial services industry-including Banque Misr, Banque Du Caire, Credit Agricole, Barclays Bank and Citibank - it looks to further strengthen and reiterate its commitment through providing world-class IT solutions that will empower the industry.

Announcing its success in Egypt, N R K Raman, Managing Director and Chief Executive Officer, i-flex solutions said, "Egypt is a strategic market for us and we are proud of our partnerships and the success we have achieved in the market. It is estimated that a substantial percentage of the total banking transactions in Egypt are handled by banks that use FLEXCUBE®, i-flex's core banking solution."

Re-affirming i-flex's commitment to the Egyptian market Raman said, "IT usage among Egyptian financial institutions are fast growing and maturing. To provide these institutions with enhanced support levels, i-flex plans to open a support center in Egypt by the first quarter of 2008. This center can not only support our customers in Egypt, but also can serve as the hub for the Middle East, Africa and Southern Europe. We are excited about the local talent available in Egypt."

i-flex offers end-to-end portfolio of solutions to the Egyptian financial services industry i-flex solutions offers the Egyptian financial services industry a range of solutions. Said Raman "The Egyptian financial services industry is at the threshold of significant growth and is looking at technology as a key growth enabler. With successful customer partnerships in the country, i-flex is in a strong position to provide world-class solutions, localized to address the unique requirements of the market. For example, FLEXCUBE supports multilingual Arabic screens for Egyptian customers. Our extensive experience in servicing financial institutions across the globe is an added advantage."

i-flex's portfolio of solution includes the FLEXCUBE suite of products -- a complete banking product suite across retail, consumer, corporate, investment banking, asset management, investor servicing, and payments, among others. i-flex also offers specific solutions for the lending, private and Islamic banking domains.

Through Reveleus™ and Mantas®, i-flex offers a single, unified platform for Governance, Risk and Compliance (GRC). i-flex's global IT services division, PrimeSourcing™, provides customized software solutions exclusively for the financial services industry. The i-flex Consulting™ division, provides an end-to-end consulting partnership for comprehensive business and technology solutions; and i-flex Processing Services (iPSL), provides asset management, financial modeling and valuation and Business Process Outsourcing (BPO) services.