1. History
    Part of Citicorp (I-Flex Solutions)  Early history  Oracle Corporation 

2. Products and services

3. See also

4. References

History

Part of Citicorp (I-Flex Solutions)

There was a company of CITIBANK in 1990 named as CitiCorp Oversea Software Ltd., (later known as i-flex in world market). Over a period of time, another(?) company was merged into it and new company was started named as Citicorp Information Technologies Industries Ltd was formed. (CITIL) out of COSL and named Rajesh Hukku to head CITIL{{Citation needed|date=April 2014}}. While COSL's mandate was to serve Citicorp's internal needs globally and be a cost center, CITIL's mandate was to be profitable by serving not only Citicorp but the whole global financial software market. Largely known as i-flex and then eventually renamed to Oracle Financial Services Software

Early history

CITIL was started with universal banking product named as MicroBanker (which became successful in some English speaking parts of Africa and other developing regions over the next 3–4 years) and the retail banking product Finware{{Citation needed|date=April 2014}}. In the mid-90s, the firm developed Flexcube (stylized FLEXCUBE) at its Bangalore Centre. After the launch of Flexcube, all of CITIL's transnational banking products were brought under a common brand umbrella. Subsequently, company's name was changed to i-flex Solutions India Ltd.,

Oracle Corporation

Oracle purchased Citigroup's 41% stake in i-flex solutions for US$593 million in August 2005, a further 7.52% in March and April 2006, and 3.2 per cent in an open-market purchase in mid-April 2006{{Citation needed|date=April 2014}}.

On 14 August 2006, oracle financial services announced it would acquire Mantas, a US-based anti-money laundering and compliance software company for US$122.6 million. The company part-funded the transaction through a preferential share allotment to majority shareholder Oracle Corporation.

On 12 January 2007, after an open offer price to minority shareholders, Oracle increased its stake in i-flex to around 83%.^[6]

On 4 April 2008, Oracle changed the name of the company to Oracle Financial Services Limited.^[7]{{dead link|date=January 2019}}

On 24 October 2010, Oracle announced the appointment of Chaitanya M Kamat as Managing Director and CEO of Oracle Financial Services Software Limited. . The outgoing CEO and MD, N.R.K.Raman retired from these posts after 25 years of service.

Now Oracle Financial Services Software Limited is a major part of Oracle Financial Services Global Business Unit (FSGBU) under Harinderjit (Sonny) Singh who is the Vice President & Group Head of Oracle FSGBU World Wide^[8].

Products and services

Oracle Financial Services Software Limited has two main streams of business. The products division (formerly called BPD – Banking products Division) and PrimeSourcing. The company's offerings cover retail, corporate and investment banking, funds, cash management, trade, treasury, payments, lending, private wealth management, asset management and business analytics. The company undertook a rebranding exercise in the latter half of 2008. As part of this, the corporate website was integrated with Oracle's website and various divisions, services and products renamed to reflect the new identity post alignment with Oracle.

Recently, Oracle Financial Services launched products for Internal Capital Adequacy Assessment Process, exposure management, enterprise performance management and energy and commodity trading compliance.

The company promotes its BPO business process outsourcing business via its subsidiary Equinox Corporation which is based in Irvine, California.

See also

• List of IT consulting firms
• Fortune India 500
• List of companies of India

References

• Fire Shadow
• Fire shelters
• Fire (Shinee song)
• Fireship of Northumberland Strait
• Fireshovel
• Fire shovel
• Fire-shovel
• Fire shovels
• Fire-shovels
• Fireshovels
• Fireside, British Columbia
• Fireside Dinner Theater (Fort Atkinson, Wisconsin)
• Fireside Dinner Theatre
• Fireside Dinner Theatre (Fort Atkinson, Wisconsin)
• Fireside girls
• Fireside Girls
• Fireside Song
• Fire Siege of 2003
• Firesign theater
• Fires in Edo
• Fires in the Mirror: Crown Heights, Brooklyn and Other Identities
• Firesite funnel
• Fire (Sleeping With Sirens song)
• Fire snake
• Fire snake (Dungeons & Dragons)