i-flex introduces banking solutions

New Delhi, Sep 20: i-flex Solutions Ltd today launched a banking solution, 'i-flex Process Framework for Banking (iPFB)', to help banks improve their process efficiency while managing operational risks.

iPFB offers both business process definitions and corresponding executable processes which are implemented using the industry-standard Business Process Execution Language (BPEL).

''Banks are struggling with the challenge of transforming their systems to achieve business agility without risking business disruption. iPFB provides them with the tools to implement business process improvements without a major surgery to the supporting application and IT infrastructure. It also provides them with a way to move from a legacy environment to an SOA environment in a phased manner, while managing operational risk effectively,'' i-flex CEO (International Operations and Business Development) R Ravisankar said.

Banks can also use iPFB to control operational risk and integrate diverse applications into a common operating environment.

iPFB is also a training enabler as it maintains the latest process specifications in a manner that can easily be understood by business users. In addition, iPFB monitors risk indicators and serves as the implementation of a Risk Control Self Assessment framework. It also significantly simplifies the task of making process and control information available to regulators when required.

UNI