i-flex announces Flexcube Swiftnet Messaging

At SIBOS, Sydney, October 09, 2006: i-flex® solutions, a leading provider of technology solutions to the global financial services industry, today announced the availability of FLEXCUBE® SWIFTNet Services Integrator (FLEXCUBE SSI), a comprehensive SWIFTNet* messaging solution.

FLEXCUBE SSI consists of a suite of tools, consultancy services and SWIFT infrastructure support services, all in one, to address all SWIFTNet requirements of banks. The suite of tools include a highly-scaleable messaging hub, business-specific tools that help banks implement SWIFTNet services across various lines of business, and market infrastructure services, such as EBA STEP2 and TARGET2.

FLEXCUBE SSI helps centralize SWIFTNet traffic by providing single access to business applications for exchanging messages over various services using SWIFT's newer protocols like FileAct and InterAct""without making significant changes to existing business applications. Financial institutions can also offer value-added solutions to their corporate customers, taking advantage of FLEXCUBE SSI's complete integration with corporate enterprise applications, such as Oracle ERP and PeopleSoft, and with core banking applications, such as FLEXCUBE and those developed in-house.

"FLEXCUBE SSI is exactly the sort of complete and scaleable solution SWIFT users need," said Thomas Mathew, VP - Product Management, i-flex solutions. "Besides, given its ability to integrate with core banking applications, such as FLEXCUBE, and corporate enterprise applications, FLEXCUBE SSI is truly a unique offering in the emerging Corporate-to-Bank connectivity space," he added.

A tier 1 global bank has already deployed FLEXCUBE SSI, enabling its securities, cash management and treasury departments to exchange messages over SWIFTNet via the FLEXCUBE SSI messaging hub. "That one of the largest SWIFT users in the world uses FLEXCUBE SSI underscores the power and scalability of our solution," Mathew observed. Implementation and support of global SWIFTNet infrastructure is currently under way at Tier 1 banks based in the UK and South Africa.

For information on FLEXCUBE SSI, visit: http://www.iflexsolutions.com/iflex/solutions/FCpayments.aspx?mnu=p3s1

About i-flex solutions

i-flex® solutions (Reuters: IFLX.BO & IFLX.NS) is a world leader in providing IT solutions to the financial services industry, with more than 660 customers in over 120 countries. i-flex's range of products, custom solutions and consulting services enable financial institutions to cut costs, respond rapidly to market needs, enhance customer service levels and mitigate risk.

Oracle holds a majority stake in i-flex solutions. This strategic relationship provides financial institutions around the world with an unmatched, comprehensive and integrated suite of solutions. With the alignment of i-flex's expertise with Oracle's financial services strategy, Oracle jointly markets and resells i-flex's suite of solutions. i-flex, in turn, resells solutions from Oracle.

i-flex and FLEXCUBE are registered trademarks of i-flex solutions. Reveleus, Daybreak and PrimeSourcing are trademarks of i-flex solutions and are registered in several countries.

All other company and product names are trademarks of the respective companies with which they are associated.

For information, please visit: www.iflexsolutions.com