FLEXCUBE, as a banking transaction processing application suite for a variety of market segements including general banking, corporate banking, wealth management, mutual funds, brokerages and syndicated lending, has some advantages, i-Flex Solutions Office in Baku told APA.

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 cost of the project is $1.35mln. Kapital Bank's branches will also have the system.

The solution helps banks meet the challenge of managing higher volumes, intense competition and increased customer expectations.

FLEXCUBE was ranked as the No. 1 banking solution in the world for four consecutive years 2002, 2003, 2004 and 2005.

i-Flex Solutions Limited is an India based IT company that produces software for the financial services industry. It is headquartered in Mumbai (Bombay), India, and has approximately 5,500 employees. The company is majority owned by Oracle Corporation (a 61% controlling stake).