Chinatrust Bank embarks on core banking transformation with i-flex's FLEXCUBE

TAIPEI, TAIWAN: Chinatrust Commercial Bank (CTCB), the largest private bank in Taiwan, and i-flex solutions, a leading provider of IT solutions to the global financial services industry, announced that the bank will implement FLEXCUBE Universal Banking Solution as the software platform for its institutional banking business. i-flex Consulting recently completed a business process transformation exercise at the bank. The implementation is across CTCB’s domestic and overseas branches. 

With FLEXCUBE, CTCB will be able to integrate its corporate banking operations onto one platform, leading to standardization and greater customer centricity. Process redesign and transformation will enable a more robust and efficient operating model bringing in increased flexibility, cost efficiency, and optimization of systems and processes. 

Speaking on the selection of FLEXCUBE, Frank Shih, Deputy Director, Corporate Marketing Division, Chinatrust Commercial Bank, said, “Amongst the host of leading core banking solution providers we evaluated, we chose i-flex’s FLEXCUBE because of superior product functionality, and i-flex’s vast implementation experience and rich expertise in process transformation. With this core banking transformation, we aim to integrate our corporate banking operations, and move to an open technology architecture that will improve market responsiveness and lower IT development and maintenance costs over time.” 

Kishore Kapoor, CEO, i-flex solutions pte ltd, said, “This partnership with CTCB validates i-flex’s position as a leading provider of core banking solutions in Asia-Pacific.  We are enabling CTCB to leverage a new operating platform, FLEXCUBE, along with business process transformation, demonstrating i-flex’s capability to offer a comprehensive solutions framework for financial services institutions. This win gives us further momentum in the greater China region where we have made significant investments.”

Speaking about the process transformation at CTCB, Vijay Sharma, Senior Vice-President, i-flex Consulting, said, “The CTCB engagement proves our ability to execute complex banking transformation assignments that deliver significant, long-term benefits. We are using an operating model for the business that standardizes processes, enables a uniform customer experience, and improves operational efficiency. This new operating model will not only help CTCB’s management align the bank’s processes uniformly, but also ensure delivery across branches and incorporate industry-best practices for market leadership.”