i-flex help Rakuten, Tokyo Tomin Bank launch virtual bank

By SiliconIndia   |   Wednesday, 27 February 2008, 12:12 Hrs
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Tokyo: i-flex solutions, a leading provider of technology solutions to the global banking and financial services industry, has announced that Rakuten and Tokyo Tomin Bank have launched an online banking branch, with FLEXCUBE, i-flex's core banking solution. The online branch is hosted at 'Rakuten Ichiba', the largest e-marketplace in Japan.

The branch will provide customers with easy access to account information and easy-to-use online banking services, while protecting their financial data. It will also give customers of 'Rakuten Ichiba' the convenience of a 24/7 online bank, and added channels such as ATM and mobile banking. The services can be directly accessed through 'Rakuten Ichiba' IDs.

Rakuten provides the online marketplace, 'Rakuten Ichiba,' for sellers to market their products to Internet shoppers. Rakuten Financial Solution is the banking and financial services subsidiary of Rakuten. The Tokyo Tomin Bank serves the funding needs of small and medium-sized enterprises. It provides quality financial services to individuals and smaller businesses in Tokyo and adjacent areas.

Speaking on the implementation, Joseph John, Executive Vice-President, Banking Products, i-flex solutions, said: "FLEXCUBE has led the way in adapting to emerging business models in banking. We commend the innovation and leadership that Rakuten has undertaken, which will provide insights on banking services globally".

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