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After news earlier this month that National Australia Bank had recruited Oracle to manage the roll out of the first phase of a A$1 billion overhaul of its core banking operations, it's not surprising that I-flex, majority owned by Oracle, will be providing the new core banking system.
However, The Economic Times in India reported some more detail yesterday on I-Flex's involvement. As a subset of the larger Oracle deal, I-Flex has apparently signed a five-year contract from National Australia Bank (NAB), estimated at $90 million.
Sources told the Economic Times that besides its core banking solution, i-flex will provide support activities such as professional and application management services and analytics. Its role may also include consulting.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Stanley Epstein Associate at Citadel Advantage Group
30 October
Julija Jevstignejeva Deputy Head of Marketing at Walletto UAB
29 October
Carlo R.W. De Meijer The Meyer Financial Services Advisory (MIFS) at MIFSA
28 October
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