People’s Bank has selected i-flex and Oracle for its core deposits system, marking the first engagement between the two technology companies in North America. The bank will implement i-flex’s FLEXCUBE, along with Reveleus Customer Profitability Analytics and Oracle Database. “We selected FLEXCUBE to replace our legacy technology based on its global track record and expansive product functionality,” says Mark Vitelli, executive vice president of direct banking and operations at People’s Bank. “The joint value proposition from i-flex and Oracle, which delivers best-of-breed functionality with broad enterprise capabilities, was truly compelling.”
“This is a strategic win for i-flex and Oracle, demonstrating our joint vision of transforming the banking industry through a new generation of solutions that offer new flexibility and, ultimately, lower total cost of ownership to our customers,” says David Sardilli, senior vice president of global industries business unit at Oracle. “We are committed to delivering unparalleled value to our customers and to helping them increase the operational efficiency of their business.”
“We are delighted with this win at People’s Bank, a respected American financial institution,” adds i-flex solutions’ CEO R. Ravisankar. “Banks are increasingly facing the challenge of meeting rapidly changing market requirements, and the need to replace legacy systems with a next-generation solution that provides business agility. FLEXCUBE provides the answer to this pressing need.”