The Hindu Business Line : Oracle's biz unit looks at inorganic growth options

Oracle's Financial Services Global Business Unit (FSGBU) would explore inorganic growth options to enhance its solutions base and expand footprint in the financial services arena.

Mr Rajesh Hukku, Oracle's new General Manager and Senior Vice-President of the FSGBU, said the new outfit would leverage Oracle's balance sheet exploring product acquisitions in areas such as front-end treasury, private wealth management, mortgage industry and even core banking among others.

Mr Hukku, who is also the Chairman of i-flex solutions, said the acquisitions by Oracle's FSGBU would augment i-flex's solution offerings. The New York headquartered Oracle's FSGBU would centralise and co-ordinate current and future financial services application assets of Oracle.

It will bring together vertical applications from i-flex such as Flexcube, Reveleus, Mantas, DayBreak and Insure3 and Oracle, complemented by i-flex services and KPO offerings to provide a comprehensive and integrated suite of solutions for the financial services industry.

Mr N.R.K. Raman, the newly-appointed Managing Director and CEO of i-flex solutions, said the company was witnessing good momentum in the Indian market, especially from the new multinational banks entering the market.

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