International Moscow Bank (IMB) Russia is implementing the Flexcube core banking system from India-based i-flex solutions.
Under the contract, IMB will deploy the corporate and retail banking applications from the Flexcube suite.
The bank is the i-flex's first contract win for Flexcube in Russia. V Senthil Kumar, CEO, i-flex solutions, says the product will customised to address the needs of banks in the Russian market.
I-flex has also announced it is acquiring Equinox Corporation, a supplier of customer acquisition and business process outsourcing (BPO) services to mortgage providers, auto financers and credit card companies.
The vendor has also bought a 33% stake in Login, a French provider of front and middle office treasury software.