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NSE
4777.70
Change Change %
33.90 0.71%

Updated:14 Oct, 2021, 15:57 PM IST

BSE
4780.90
Change Change %
37.20 0.78%

Updated:14 Oct, 2021, 16:00 PM IST

Oracle Financial Services Software (OFSSL) was incorporated in September 2008 and is engaged in providing products and services to financial industry. During its incorporation it was named as Citicorp Information Technology Industries and later in March 2000 the name was changed to i–flex Solutions.

Oracle Corporation holds 81% of stake in the company. Oracle is the largest enterprise company more than 8,500 financial services customers spread across 145 countries.

The company operates four subsidiaries namely i–flex solutions inc in the USA, i–flex solutions bv in the Netherlands, i–flex solutions pte in Singapore and iPSL in India. Through these subsidiaries it is able to achieve strong presence in areas of sales and marketing in over 27 locations

The company has 14 development centres located in India, Singapore and USA.

OFSSL has alliance partnership with industry leaders like Hewlett Packard, IBM, Intel, Microsoft and Sun Microsystems.

Products and services

OFSSL offers a range of solutions that cater to segments like capital markets, compliance, corporate banking, CRM, Islamic banking, insurance, private banking, retail banking and risk management.

The company has successfully developed products like FLEXCUBE, Prime Sourcing, Reveleus, i–flex consulting, Mantas, Insure, i–flex BPO are among others.

Awards and recognition

The company was ranked as one of the “Asia’s Hot Growth Companies: 2007” by Business Week.

i–flex BPO was honoured with the “NASSCOM Excellence in Gender Inclusivity – Best Emerging Company” award.

Major events

2010
–Oracle Financial Services Software Ltd has titled ""PRASAC MICROFINANCE INSTITUTION, of Cambodia Goes Live on Oracle FLEXCUBE"".
–Oracle Financial Services Software Ltd has has opened a new local delivery centre in Chile to support Industry–Leading Financial Services Software and Solutions.
–Jibun Bank and United Bank Limited Pakistan Win Prestigious Banking Awards.
–Oracle FLEXCUBE Universal Banking Achieves Industry Leading Results with Oracle Exadata V2 Benchmark.
–Oracle Financial Services Software Introduces Oracle Mantas Energy and Commodity Trading Compliance (ECTC).

2011
–Oracle Financial Services Introduces Oracle Revenues Liquidity Risk Management.
–Oracle Introduces Oracle Financial Services Data Warehouse.
–Oracle Introduces Oracle Financial Services Hedge Management and IFRS Valuations.
–Oracle Introduces Oracle Financial Services Enterprise Case Management.

2012
–Oracle Introduces Oracle FLEXCUBE Multi–Channel Solution on Direct and Mobile Channels for the Financial Services Industry.
–Oracle Launches Comprehensive, Ready–to–Deploy Applications for Solvency II Reporting and Analysis."

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