Spanish savings bank Caixa Galicia is to implement the Flexcube core banking system from Indian supplier i-flex as its retail banking platform for overseas operations.
Caixa Galicia's first international branch to operate Flexcube will be in Geneva, Switzerland, providing the Indian supplier with its first implementation on the home turf of rival vendor Temenos. The deal also marks i-flex's debut on the Spanish banking market.
José Antonio Fernandez, IT architecture, Caixa Galicia says the centralised, multi-country deployment of Flexcube will help the bank centralise its operations, and significantly improve its time-to-market with new products and reduce risk. It will also help save startup and running costs of its overseas branches.
"We aim to build a robust technology infrastructure to support banking services in our drive towards overseas expansion," he says. "The selection of Flexcube was based on the architecture, scalability and reliability of the solution, its proven ability to be deployed as a centralised hub for multi-country operations, as well as its international track record."
Caixa Galicia's network of international offices currently includes six branches in Portugal and eight representative offices in South America and Europe.
I-flex’s partner in Spain and Portugal, Real-e Management Consulting, a Madrid based company, is jointly implementing the package at Caixa Galicia.