The Hindu Business Line : i-flex to focus on BRIC

HAVING established its footprint in the banking industry globally, i-flex Solutions Ltd, stated to be the world's largest core banking product vendor, has identified the BRIC (Brazil, Russia, India and China) geographies as major thrust areas.

The company has also firmed up plans to double the headcount at its centres of excellence in Mumbai and Pune from 2,500 at present to 5,000 within the next one-and-a-half years.

Stating this at a news conference here today, Mr Deepak Ghaisas, Chief Executive Officer (India Operations) and Chief Financial Officer of i-flex solutions, said that, while markets in Europe, Japan and Korea would continue to be money spinners for the company, Brazil, Russia, India and China would be regions where the company would focus in the months ahead.

Mr Ghaisas said i-flex already has a branch in Russia and a representative office in China. With a deal already struck in Brazil, the company was open to the idea of opening a representative office in that country with increase in business volumes.

According to him, i-flex currently has about 540 customers across the globe. Barely 4 per cent of the company's turnover last year was accounted for by its Indian operations. i-flex's clients in India comprise 13 banks, mostly those in the private sector.

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