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First Magnus Federal to deploy i-Flex core banking platform

16 November 2005  |  1188 views  |  0 Source: i-flex

i-flex solutions, a leading provider of technology solutions to the global financial services industry, announced today that First Magnus Federal Bank (FMFB) – in organization, has become the first United States retail bank to opt for i-flex's FLEXCUBE for its complete banking platform.

"After a most rigorous evaluation process, we selected FLEXCUBE because it met our objectives to future-proof our systems with a state-of-the-art, end-to-end core banking solution that is both feature rich and highly flexible based upon our current and projected business needs," said Arnold Aros, CEO of First Magnus Federal Bank – in organization. "This implementation will not only help us enhance our customer service levels but enable cross-selling opportunities. Faster time-to-market for new product launches, enhanced MIS and ad-hoc reporting capabilities are some of the other benefits this solution brings to the table."

The solution provides FMFB with seamless integration of Oracle's PeopleSoft CRM, which will deliver sales, marketing and customer service capabilities with FLEXCUBE providing full support for core banking and integration with all delivery channels, bill payment, item processing and business intelligence.

"We are pleased to provide FMFB with a core banking solution that is functionally robust and cost effective," said R. Ravisankar, CEO, International Operations and Business Development of i-flex solutions. "In addition to greater agility, FLEXCUBE will empower the bank to offer better customer service, and enable the bank to aggressively compete with much larger institutions."

"First Magnus showcases the value which i-flex and Oracle can bring to a customer," said Andrea Klein, VP, Financial Services Industry Strategy and Solutions of Oracle Corporation. "A complete customer view, integrated with all products and services supplied by the bank, delivers a personal approach that differentiates the bank."

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