HQ: Mumbai, India Ownership: Public Founded: 1991 # Staff: 9,600+
Key Clients: National Aus- tralia Bank, Suncorp Metway, Ubank(NAB Group)
Key Highlights
Company Overview
• Started as an Indian development center of Citicorp in 1985; became a separate entity, Citil, in 1991; rebranded to i-flex in 2000 before being acquired by Oracle Corporation and renamed as Oracle Financial Services Software Limited in 2008
• Oracle unveiled new high end core banking platform, Oracle Banking Platform (OBP) in 2012; aimed at top tier banks
Product Overview
• SOA based; written in Java and BPEL; developed based on Oracle Fusion application infrastructure middleware suite
• Key functionalities supported: Checking/current account, savings account, term deposits, secure and unsecure lending, origination and collections
• OBP and Flexcube are to complement each other and not replace each other
• With many tier-1 bank looking to revisit their core banking strategy, the launch of OBP may be perfectly timed
