Lakshmi Vilas Bank eyes growth with Flexcube core banking platform

The bank has chosen i-flex's Flexcube as its core banking platform and Wipro Infotech , IT solution provider, as systems integrator.

i-flex, provider of technology solutions the financial services industry, says deployment of the solution will allow the bank to offer its customers anywhere and internet banking. It further claims its product will substantially reduce the bank's operation costs by improving the quality of management information.

Flexcube is expected to allow the bank's business analysts, with no programming skills, to design and roll out new products and services in a matter of weeks rather than months.

R.M. Nayak, chairman and CEO of LVB said, "With the Indian economy seeing unprecedented growth we see enormous potential for growth. We believe that we will be able to seize that opportunity because the implementation of Flexcube will provide us the institutional agility that we require. With Wipro we have the assurance of flawless implementation and reliability."

Wipro will be responsible for implementing and managing the banks infrastructure, and is required to provide the branch connectivity and required support services as the Bank rolls out the core banking software in branches in a phased manner.