I-flex reports Banco do Brasil deal

I-flex reports Banco do Brasil deal

Banco do Brasil is rolling out the Flexcube core banking platform from Indian fintech vendor i-flex across its international operations.

The vendor says the Flexcube Universal Banking package will provide the bank with a flexible business process framework to launch products across multiple countries.

The implementation will begin at Banco do Brasil's operations in the UK.

I-flex says Flexcube will help the bank implement global best practices and standardise processes across international operations. It will also improve operational efficiency, financial reporting and customer service.

"We wanted a business platform that was adaptable and that would let us operate globally while complying with local regulations," ssays Sandro Marcondes, MD, international business, Banco do Brasil.

The vendor says the deal with Banco do Brasil "strengthens Flexcube's position in the Latin American banking and financial services market".

Banco do Brasil is the largest financial institution in Brazil. Last month the bank selected Fiserv to provide core banking technology for a new US unit that will focus on providing services to Brazilian immigrants.

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