The division is really a US re-launch of i-flex Solutions, the Indian banking software provider that Oracle acquired an 81% stake in last March.
The New York-based business unit will employ around 12,000 staff and develop a broad portfolio of products and services to help financial services companies integrate Oracle’s ERP and CRM software with i-flex products as special vertical application packages.
In a parallel move Oracle has also announced a new process integration pack for banking account origination that helps to integrate front- and back-office customer service applications for banks. The integration pack provides pre-defined process flows between Oracle’s Siebel CRM applications and i-flex’s Flexcube banking software. The process flows are built on SOA and BPEL standards.
Oracle also announced yesterday that Flexcube has been certified to work with its Access Manager software, which is part of Oracle’s identity management application suite and Fusion middleware.
While Oracle already owns a majority stake in i-flex this move will no doubt fuel speculation that it is ready to increase its stake in the Indian firm.
Currently Mumbai-based i-flex has around 750 customers worldwide.
