The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

June - 2007 - issue > Movers and Shakers

i-flex's Reflex

ST Team
Friday, June 1, 2007
ST Team
The Japanese and Koreans make good cars and sell them worldwide. We Indians make sophisticated software. It is time for a ‘Made in India’ brand,” Rajesh Hukku, CMD, i-flex had said in 2003.

In the intervening four years, he has proved to the world the potential of an Indian product company – i-flex, which sells a range of products under its Flexcube label that help financial-services companies manage banking, credit-card and other transactions has acquired 753 customers across 128 countries.

The wily 49-year-old businessman is now moving to the U.S. to maneuver the Oracle Financial Services Global Business Unit, floated as a part of Oracle’s recent 81.2 percent acquisition of i-flex.

Backed by the synergies of i-flex’s product portfolio with Oracle’s strategy for leadership in financial services, Hukku will concentrate on identifying areas of growth globally. “Take Islamic banking for instance,” he says, perhaps expressing his acumen in the area, “i-flex is among the first to have identified and invested in the area, and today has a considerable market share in the middle-east and Malaysia.” The Islamic banking market is expected to touch $7.5 billion by 2008.

Hukku will be replaced by N.R.K. Raman, who has now been designated MD and CEO of i-flex. Though soft-spoken, Raman’s words convey his belief on the bullish nature of the domestic ‘solutions for financial services’ market. “Globalization has set in an era of one-policy-for-all-branches in banks, following which Indian branches of foreign banks are aggressive about deploying our solutions,” he says.

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