Oberbank Bank Chooses IBM and i-flex to Launch New Branches in Hungary

Oberbank Bank Chooses IBM and i-flex to Launch New Branches in Hungary

IBM (NYSE: IBM) and i-flex® solutions today announced that Oberbank, an Austrian bank focused on international expansion and a member of the “3 Banken Gruppe” (3 banks group), has selected IBM’s System p running i-flex’s flagship product, FLEXCUBE, for its core banking operations in Hungary. The technology will support Oberbank’s globalization efforts in Hungary.

Oberbank is currently transforming from a regional to a multinational bank to benefit from the economic opportunities that are emerging in Eastern Europe. In an effort to gain flexibility, agility and improve customer service, Oberbank is moving away from its previous banking application in Eastern Europe to FLEXCUBE from i-flex, an IBM Business Partner, and one of the world’s leading providers of technology solutions to the global financial services industry.

FLEXCUBE will become the core banking solution for both commercial and personal accounts at several new branches opening in Hungary in the next 12 months. One of several advantages of the new application is real-time updates of deposit and withdrawal data at ATM’s, which will improve customer service. FLEXCUBE also provides reduced total cost of ownership, a fast deployment time for new products and sales channel strategies, as well as high flexibility and scalability. The functional blocks of FLEXCUBE are based on the concept of Service Oriented Architecture (SOA) allowing easy integration with legacy systems.

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