Bangalore: i-flex solutions today (Dec 3, 2004) announced the launch of its Moscow office.

"The announcement is in line with i-flex's global expansion strategy", the company said in a statement.

The Moscow office is an important milestone in i-flex's plan to grow its customer engagements in the Commonwealth of Independent States (CIS) region, currently comprising 12 countries including the Russian Federation, Ukraine and Belarus, the statement said.

i-flex also has plans to use the region as a base for talented software development resources.

i-flex recently acquired a new customer in the region following an agreement with International Moscow Bank, Russia, for the development of FLEXCUBE, its flagship product.

"i-flex has a historic relationship with Russia, having successfully sold its earlier banking solution, MicroBanker in the early 90s to Russian banks", the statement said.

Speaking on the occasion, Rajesh Hukku, Chairman and Managing Director, i-flex solutions said, "Russia will emerge as a key economy over the next few years and i-flex is poised to make a significant impact in this region. We envision a strong and growing role through our direct presence, and through our partners, in redefining the way banks use technology to serve their customers".

i-flex CEO V Senthil Kumar said, "Our expansion into Russia is exciting as it throws up immense business possibilities for us. It also allows us to develop alternative talent which allows us greater flexibility and speed in deploying our solutions, particularly in the CIS region".