i-flex opens Moscow office

i-flex solutions, one of the leading technology solutions provider to the financial services industry, has announced the opening of its Moscow office. The announcement is in line with i-flex's global expansion strategy.

Recently, i-flex acquired a new customer in the region following an agreement with the International Moscow Bank, Russia, for the deployment of Flexcube, its flagship product.

"Russia will emerge as a key economy over the next few years and i-flex is poised to make a significant impact in the region. We envision a strong and growing role through our direct presence, and through our partners, in redefining the way banks use technology to serve their customers," Rajesh Hukku, chairman and managing director, i-flex solutions, said.

The Moscow office is an important milestone in i-flex's plan to grow its customer engagements in the Commonwealth of Independent States (CIS) region.

This region comprises 12 countries including the Russian Federation, Ukraine and Belarus.

i-flex also has plans to use the region as a base for talented software development resources.

The company has a historical relationship with Russia, having successfully sold its earlier banking solution, MicroBanker in the early nineties to Russian banks.

Russia is a fast growing economy and has over 250 banks that are potentially gearing up to replace their core banking technologies.

According to V Senthil Kumar, CEO, i-flex solutions, "Our expansion into Russia is exciting as it throws up immense business possibilities for us. It also allows us to develop alternative talent which allows us greater flexibility and speed in deploying our solutions, particularly in the CIS region."

i-flex is already working with their local business partners who facilitated the process of customer engagement.

The first round of partner training is underway at the Bangalore development centre.