Bulgaria's First Investment Bank has contracted with India's i-flex for the supply of a core banking platform based on its Flexcube technology.
Alongside the Flexcube installation, i-flex has also been contracted to supply and implement its Web banking package Flexcube@, and Reveleus Basel II risk management system.
I-flex says the bank is revamping its technology platform and streamlining operations in preparation for joining the EU.
Commenting on the deal, Senthil Kumar, CEO, i-flex solutions, says: "Our approach of solving complex technology problems in financial institutions through a wide array of products and services is getting increasingly accepted by banks in new EU member states."
The bank is the vendor's fourth customer in Bulgaria.