i-flex, a provider of IT solutions to the financial services industry, has announced that Kyrgyz Investment & Credit Bank had gone live on Flexcube, a universal banking solution.
In 2006, Kyrgyz Investment & Credit Bank (KICB) has decided to transform itself in to a full service commercial bank and launched retail banking operations. To increase efficiency it wanted to consolidate its retail and corporate core banking infrastructure. This meant that it had to replace its existing core banking implementation that was too inflexible to cope.
KICB chose Flexcube because of the superiority of its support for business processes and its technology. Flexcube enabled the development of new financial products and services without extensive investment in software development. The implementation was completed in six months.