Newly-formed Kotak Mahindra Bank is to deploy i-flex's flagship core banking platform Flexcube across its branch network.
The Indian bank will implement the core banking, general ledger, MIS, commercial lending and trade finance modules from the product.
In addition, i-flex's Internet banking solution, Flexcube@, will enable the bank to provide ATM, telephone and Web banking services.
Uday Kotak, executive vice chairman and managing director, Kotak Mahindra Bank, says: "We found a proven, scalable and future-proof solution, which will be the perfect fit for our operations."
Dutch authorities recently ordered twelve i-flex staff out of the country and UK police detained Sethil Kumar, CEO of the vendor's Netherland's subsidiary, following investigations into alleged visa irregularities.