 "Federal Home Loan Bank Opts For FLEXCUBE")
i-flex solutions, a provider of technology solutions to the global banking and financial services industry, has announced that Federal Home Loan Bank of New York (FHLBNY) has selected FLEXCUBE as part of its current technology strategy.
FLEXCUBE’s core modules will be implemented to automate FHLBNY’s Demand Deposit Account (DDA) portfolio of member financial institutions and the current DDA application will be replaced later this year.
“I am impressed with the compelling value provided by FLEXCUBE’s modern architecture. The system is very flexible and meets the bank’s requirements,” opined John Surre, VP, Deposit Services, FHLBNY.
According to R Ravisankar, CEO, International Operations and Business Development, “We see the partnership with the Federal Home Loan Bank of New York as a strategic one in addressing their growth and competitive advantage. There are similar banks in the United States who could leverage the learning from this program and partnership to replace their existing applications.”
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