i-Flex banks on Spanish

CIOL Bureau
New Update

PUNE: i-Flex Solutions Ltd plans to tap the Latin American markets with its core banking solutions. Informing this, i-Flex Solutions CEO, India operations and CFO Deepak Ghaisas said that the company has completed the Spanish version of the software.

Spanish is the second most widely used language in Latin America after English. "This language is used is most of the countries barring Brazil and has good potential in the region," explained Ghaisas.

Ghaisas was speaking on the sidelines of the CII-Pune annual day program `Building Winning Organizations: The Secrets of their Success' in Pune. The company hopes to make a success of its business intelligence and analytical software for data mining and data warehousing. Presently, the solution is only available for the financial sector but could grow horizontally.

The company has acquired six customers for the products. "Banks would now get into the analytical part of the technology and this product is capable of predictive modeling. Unlike other analytical tools in the market this is a ready to use model," Ghaisas said.

i-Flex is also targeting Tier I bank customers with its software demonstrating scalability. The company has just demonstrated capability to handle 4546 transactions per second throughput at the IBM Lab in France and audited by Ernst and Young, Ghaisas said.

Starting in 1993 with Rs 4 crore, the company today sells mission critical software to banks and has Rs 600 crore in cash balance. According to Ghaisas, one of the major reasons for the company's success was targeting the emerging markets when rest of the IT companies were focused in US and European markets.

"i-Flex has its operations in Pune with a team of 250 people looking after the payment and credit card security function and the company was considering expanding the facilities here," Ghaisas informed.

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