FLEXCUBE, i-flex solutions flagship product, is live at UniCredit Bulbank’s operations in Bulgaria.
When it acquired HVB Group in 2005, three bodies were assimilated into UniCredit Bulbank: Hebros Bank, HVB Bank Biochim and Bulbank, thus creating the most powerful banking entity in the country.
UniCredit chose FLEXCUBE in 2006. i-flex solutions replaced the existing systems at its Bulgarian entities with a standard version of FLEXCUBE and the bank went live on the new, integrated, platform in less than 14 months.
“The project is proof of our ability to support our customers in key mergers and acquisitions and also help them realize the benefits in a short time frame. We see an opportunity to assist other banks looking at consolidating assets in the new EU countries,” says S. Sundararajan, senior vice president of the Banking Products Division.
The project team set the objective of creating a uniform target version for all three bodies, with FLEXCUBE being deployed as part of a ‘big-bang’ implementation. The integration plan was to upgrade Hebros Bank, which was already using FLEXCUBE, to the target version, and migrating HVB Bank Biochim and Bulbank also.
“In order to offer the best set of products across the bank, we developed standard models for each banking entity and delivered on these at very aggressive timelines. The attendant changes required in FLEXCUBE were very quickly delivered by the i-flex solutions team,” claims Nicola Cattane, IT cluster manager at UniCredit.