EDB, i-Flex JV for solutions in Nordic regions

i-Flex Solutions has entered into an agreement with Norway-based EDB business partner ASA to jointly offer retail banking solutions to financial institutions in the Nordic region, primarily in Sweden, Finland, Denmark and Iceland.

EDB and i-Flex would offer a unix-based solutions package for Nordic retail banks and it would combine the core system components of the company's core-banking solution Flexcube and supplementary systems from EDB, i-Flex said today.

The Nordic banking market is worth $1.5 billion for software license, application development and application maintainence and the solutions package is planned for deployment during 2006-2007, it said.

EDB and the company would co-operate as preferred partners in the Nordic region and on a case by case basis outside this region and EDB would also explore i-Flex's primesourcing capabilities as an offshoring partner, it added.