InvestBank goes with Flexcube

Sharjah-based InvestBank is seeking to boost its range of services by implementing Flexcube, a core banking system from i-Flex Solutions.

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By  Simon Duddy Published  April 6, 2003

Sharjah-based InvestBank is implementing a core banking system from i-Flex Solutions to underpin a branch expansion programme and boost the range of services it provides. Emirates Technology Company (EMITAC) will provide systems integration services.

InvestBank chose FLEXCUBE, i-Flex’s flagship product, after working with KPMG Consulting. The bank wants to offer customers “Anywhere-Anytime” banking services over a range of delivery channels. The bank is also looking at expanding both its branch network and its product portfolio.

“After careful evaluation we have concluded that FLEXCUBE meets our current and future requirements and fits our business strategy,” said InvestBank’s General Manager, Sami Farhat. The UAE financial market is already extremely competitive with a number of potential new entrants, he noted. “The objective is to position ourselves to meet future challenges and address our customer needs better at the same time,” he said.

The FLEXCUBE product suite covers corporate, consumer, investment, treasury and e-banking solutions. The Indian-based i-Flex has recently opened an office at Dubai Internet City to boost its operations in the Middle East. EMITAC is a UAE-based distribution and systems integration company.

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