i-flex solutions Is Now Oracle Financial Services

The Board of Directors of i-flex solutions Ltd., has approved a proposal to change the name of i-flex solutions Ltd. to Oracle Financial Services Limited, subject to regulatory and shareholder approvals.

The proposed new name reflects the company's close strategic and operational alignment with its parent, Oracle Corporation, which owns 81 percent of the company.

The current management team under N.R.K. Raman, CEO and Managing Director, will continue to run the operations of the company.

"The new branding reflects the importance that Oracle attaches to the financial services sector," said Charles Phillips, Oracle President and Director of i-flex solutions Ltd., "Oracle Financial Services Limited will be a focal point for Oracle's investment in innovation and leadership in financial services, and we are delighted to put the power and credibility of the Oracle brand behind this strategic initiative."

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"Our new corporate identity represents a unique combination of the industry-leading solutions portfolio and deep domain expertise of i-flex and the global capability, credibility, scale and technology leadership embodied by the Oracle brand, coming together to deliver comprehensive solutions to financial institutions around the world," said Rajesh Hukku, Chairman, i-flex solutions Ltd., and General Manager, Oracle Financial Services Global Business Unit.

N.R.K Raman, CEO & Managing Director, i-flex solutions Ltd., also commented, "The new identity will enable us to better leverage the global reach, infrastructure and brand visibility of Oracle to accelerate our growth. This is an important enabler of our mission to help financial institutions around the world excel through the effective use of information technology."