ORACLE FINANCIAL SERVICES SOFTWARE LTD
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BSE Code:
532466
NSE Code:
OFSS
Business Profile
Business Profile
i-flex Solutions (IFLEX), majority owned by Oracle Global Mauritius (81.02%), is a world leader in providing IT solutions to the financial services industry with more than 765 customers in over 130 countries. The company was incorporated on Sept. 27, 1989 as Citicorp Information Technology Industries and got its current name on Mar. 30, 2000.
The company has a range of application software, custom solutions and consulting services. Products include Flexicube, a complete banking product suite; Daybreak, a consumer lending system; Reveleus, a suite of analytical applications for risk management; Castek, providing solutions for insurance industry; and i-flex Process Framework for Banking (iPFB), a banking process repository. The technology deployment and management services (TDMS) division specializes in conceptualization, design, evaluation, implementation and management of IT infrastructure for financial institutions. Its clientele includes names like Development Bank of Mauritius, Federal Home Loan Bank of New York, Korea Exchange Bank, Public Bank in Malaysia.
The company has a strong global reach with a sales, marketing and support presence in 27 overseas locations operating under six subsidiaries (i-flex solutions Inc., USA; i-flex solutions BV, The Netherlands; i-flex solutions, Singapore; and SuperSolutions Corporation, Equinox Corporation and Mantas Inc. in the USA). i-flex Processing Services (iPSL) is also a 100% owned subsidiary of the company. i-flex solutions SA, Greece and Flexcel International are also part of the company. In addition, i-flex is represented in 85 countries through over 40 corporate business partners. i-flex also has strong alliances with Hewlett-Packard, IBM, Sun Microsystems and Intel.
Its registered office is at Unit 10-11, SDF I, SEEPZ, Andheri (East), Mumbai-400096.
Financials
Oracle Financial Services Software announced a substantial rise in standalone net profit for the quarter ended September 2008. During the quarter, the profit of the company rose 45.27% to Rs 1,112.50 million from Rs 765.80 million in the same quarter last year. Net sales for the quarter rose 25.19% to Rs 5,447.80 million, while total income for the quarter rose 25.19% to Rs 5,447.80 million, when compared with the prior year period. The company reported earnings of Rs 13.28 a share during the quarter, registering 45.14% growth over prior year period.
Recent Developments
13-MAY-09
Bank of London and The Middle East (BLME), the largest Islamic bank in the UK, has successfully implemented the company`s Oracle FLEXCUBE Private Banking in less than four months.
12-MAY-09
Jibun Bank Corporation, a joint venture (JV) between the company and leading Japanese information communications company KDDI along with Bank of Tokyo-Mitsubishi UFJ has won The Asian Banker IT Implementation Awards for `Best Core Banking Project`.
14-APR-09
The company announced the availability of Oracle Flexcube Enterprise Limits and Collateral Management.
24-FEB-09
The company announced that Advanced Bank of Asia (ABA), Cambodia has gone live on Oracle Flexcube Universal Banking.
17-FEB-09
The company launched Oracle FLEXCUBE Direct Banking 5.0, an internet and mobile banking application that addresses the direct banking needs of financial institutions.