Oracle Financial Services Software or OFSS

Oracle Financial Services Software (OFSS) was incorporated in September 2008 and is engaged in providing products and services to the financial industry. And during its incorporation, it was named as Citicorp Information Technology Industries and later in the year March 2000, and the name was changed as the i–flex Solutions. Also, the Oracle Corporation holds up to 81% of stake in the company. It is also the most significant enterprise company of more than 8,500 financial services customers, which are spread across 145 different countries. This company also operates on four subsidiaries which are i–flex solutions inc in the USA, and i–flex solutions bv in the Netherlands, and i–flex solutions pte in Singapore and the iPSL in India. Through these subsidiaries, it has achieved a strong presence in areas of sales as well as marketing in over 27 different locations. The company has 14 development centers across various countries such as India, Singapore, and the USA. Also, the OFSS has an alliance partnership with industry leaders such as Hewlett Packard, IBM, Intel, Microsoft, and the Sun Microsystems.

Some of the Products and services:

• It offers a wide range of solutions that cater to sections such as capital markets, CRM, compliance, corporate banking, Islamic banking, private banking, insurance, retail banking, and risk management.
• It has also successfully developed products such as FLEXCUBE, Prime Sourcing, Reveleus, i–flex consulting, Mantas, Insure, i–flex BPO are also one of them.

Some Awards:

1. It is ranked as the “Asia’s Hot Growth Companies: 2007” by Business Week.
2. The i–flex BPO was honored with the “NASSCOM Excellence in Gender Inclusivity – Best Emerging Company” award.

The Milestones:

1. 2010:

• Oracle Financial Services Software Ltd has titled "PRASAC MICROFINANCE INSTITUTION, of Cambodia, Goes Live on Oracle FLEXCUBE."
• Oracle Financial Services Software Ltd has opened a new local delivery center in Chile to support Industry–Leading Financial Services Software and Solutions.
• Jibun Bank and United Bank Limited Pakistan Win Prestigious Banking Awards.
• Oracle FLEXCUBE Universal Banking Achieves Industry Leading Results with Oracle Exadata V2 Benchmark.
• Oracle Financial Services Software Introduces Oracle Mantas Energy and Commodity Trading Compliance (ECTC).

2. 2011:

• Oracle Financial Services Introduces Oracle Revenues Liquidity Risk Management.
• Oracle Introduces Oracle Financial Services Data Warehouse.
• Oracle Introduces Oracle Financial Services Hedge Management and IFRS Valuations.
• Oracle Introduces Oracle Financial Services Enterprise Case Management.

3. 2012:

• Oracle Introduces Oracle FLEXCUBE Multi-Channel Solution on Direct and Mobile Channels for the Financial Services Industry.
• Oracle Launches Comprehensive, Ready–to–Deploy Applications for Solvency II Reporting and Analysis.