i-flex solutions b.v. goes strong in Balkans

By : |April 21, 2007 0

ATHENS: i-flex® solutions b.v. has announced the setting up of a subsidiary, i-flex solutions S.A., in Athens, Greece, in partnership with one of Greece’s largest holding houses, Fourlis Group.

The announcement is a significant milestone in i-flex’s European expansion strategy. i-flex solutions S.A. will cater to the markets of Greece and neighboring countries. i-flex has more than 20 banks as customers in the Balkan region including two of Greece’s largest banks – Alpha Bank and EFG Euro Bank.

i-flex solutions S.A. strengthens i-flex’s presence in the Balkan region, giving prospective customers better access to its range of products and services for the financial services industry. It will also provide its customer’s access to highly skilled, local professionals who will support future deployments in the region.

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N R K Raman, COO, i-flex solutions, and chairman of the new subsidiary, said: "Our investment in this new subsidiary in Athens is exciting as it throws up immense possibilities for engaging with our customers not only in the region but across the European Union. It also allows us to develop alternative talent pools, especially in Romania and Greece, giving us greater flexibility and speed in deploying our solutions, particularly in the retail banking domain."

"We have had long-standing business relations with i-flex solutions, a leader in the financial services technology business and we are delighted that this has been cemented into a deeper partnership. We see very bright prospects for the newly formed company," Vassilis Fourlis, chairman, Fourlis Group, said.

i-flex solutions b.v., a wholly owned subsidiary of i-flex solutions, was set up in Amsterdam in 2000, and has offices in London, Frankfurt and Dublin. i-flex has over 85 customers across 40 countries in Europe. Several Tier-1 financial institutions such as Allied Irish Bank, Citibank, and Lloyds TSB as well as First Investment Bank, Hebros Bank and PostBank, among others, are i-flex’s customers in Europe, some being large multi-country implementations.

CIOL Bureau

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