i-flex Solutions Ltd on March 27, 2007 has announced that PT Bank Danamon Indonesia (Bank Danamon) has commenced the implementation of FLEXCUBE® as the core banking solution for its Retail and Corporate Banking operations. Bank Danamon is Indonesia’s second largest private national bank and the fifth largest commercial bank in Indonesia.
The core banking transformation will be completed over the next 24 months. As a new generation core banking system, FLEXCUBE will enable Bank Danamon achieve greater customer centricity with increased flexibility to innovate in customer products, delivery across multiple channels and a single view of the customer across different business segments.
Bank Danamon’s core banking transformation project will be one of the largest core banking implementations in the ASEAN region. The bank will changeover to FLEXCUBE for the entire range of its operations; from Mass Market Retail operations, to Small and Medium Enterprises banking. As one of the fastest growing banks in the Asia Pacific region, Bank Danamon has been an industry leader in leveraging technology to power exponential growth, a key need for banks in the region.
FLEXCUBE was selected after an extensive evaluation cycle, and will be deployed across Bank Danamon’s 1200+ branches, one of the most extensive banking networks in Indonesia.
Speaking on the occasion, Kishore Kapoor, Chief Executive Officer, i-flex solutions pte Ltd, of the Company said, "Bank Danamon is a leading bank in Indonesia with very robust banking operations, and i-flex is proud to partner with such an institution. We are excited to be participating in the bank’s transformation program and we expect many other regional leaders to follow this project at Bank Danamon to enable better share and reach in a competitive market."
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Union Budget