Bangalore: IBM and i-flex solutions today (Nov 20) announced a global strategic alliance to deliver and market core banking replacement solutions to medium and large size banks in major markets worldwide.

The joint solution will help reduce costs and streamline operational efficiencies by transitioning a bank's legacy core banking infrastructure and applications to a modern banking platform, IBM managing director Abraham Thomas told reporters.

I-flex, he said will make its core retail banking solution Flexcube available in a phased manner of IBM'S J2EE-based websphere Internet infrastructure software and DB2 Universal Database.

"With i-flex solutions, we will provide customers with a flexible and open-standards based solution that will help banks increase operational efficiency and lower costs," Thomas said.

IBM and i-flex also will jointly promote Reveleus, i-flex solutions business intelligence and analytics product suite, which offers ways to enhance customer insight manage risk and improve compliance.

PTI