Development Bank of Mauritius signs for i-flex banking platform

Source: i-flex solutions

i-flex solutions (Reuters: IFLX.BO & IFLX.NS), a leading provider of technology solutions to the global financial services industry, announced today that Development Bank of Mauritius (DBM), a premier financial institution, has selected FLEXCUBE as its core banking solution.

It will become the third FLEXCUBE customer in Mauritius and one of 50 FLEXCUBE deployments in East Africa. It is also the second development bank in the last six months to select FLEXCUBE in the East African region.

DBM is making a transition from being a development bank to a commercial bank in an increasingly competitive banking environment. It sees technology as an enabler and wanted a solution that could enhance its flexibility, agility and customer responsiveness.

It made the selection as part of a global tender after evaluating products of four leading international banking software vendors.

"Just as a model is as good as its assumptions, today a banking strategy is only as good as its technological infrastructure. That is why we selected FLEXCUBE. It has been a global market leader for the last four years and i-flex solutions has a reputation for reliability and excellent support. That other banks in Mauritius are using the solution successfully also gave us confidence," says B.Chooramun, Managing Director, Development Bank of Mauritius.

"We are extremely proud that Development Bank of Mauritius has chosen us. FLEXCUBE is the market leader in Eastern Africa and a universal solution for banks of all sizes and profiles. We have a track record of implementing FLEXCUBE across 20 countries in Africa and DBM provides a great opportunity to demonstrate our ability to help financial institutions excel through the use of technology. We look forward to a successful implementation," Deepak Ghaisas, CEO India Operations and CFO, i-flex solutions.

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