Bangalore: IT solutions provider to the financial services industry, i-flex solutions on May 28 announced that HyproVereinsbank Group (HVB Group), a top European bank, is rolling out "Flexcube" banking solution in its 50 subsidiaries spread over five years.

"Ranked as one of Europe's top five banks, HVB Group selected i-flex to provide its core banking solution internationally after stringent evaluation of leading banking solution providers and products," i- flex said in a statement in Bangalore.

With the agreement i-flex gains important momentum in Germany and across Europe for Flexcube, slated to replace a number of HVB Group's existing back office systems across their international locations, it said.

"The Flexcube rollout begins in Germany and will expand internationally over the course of the coming year. The project has started at financial markets services branch in Munich, where a "go-live" is planned for the end of 2003. The roadmap for further roll-outs will be established by HVB group and spread till 2008," i-flex solutions Chairman and Managing Director Rajesh Hukku said.

HVB has over 2,100 branch offices globally with 65,000 employees and 8.5 million customers, it said.

PTI