Korea Exchange Bank Completes Implementation of Oracle Mantas April 25, 2008 Singapore, April 25, 2008: i-flex® solutions (Reuters: IFLX.BO & IFLX.NS), a leading provider of IT solutions to the global financial services industry today announced that: Korea Exchange Bank, Korea's largest foreign exchange bank, has become the first Korean Bank to successfully complete the implementation of an automated anti-money laundering surveillance solution - Mantas AML. Mantas AML mitigates risk with comprehensive, enterprise-wide surveillance of customer accounts and transaction information to alert supervisors to suspicious behavior. The system's unique ability to analyze every transaction and generate risk-based alerts of suspected money laundering activities allows anti-money laundering and compliance officers to distinguish fraudulent from legitimate transactions. KEB selected Mantas AML in May 2007 to meet anti-money laundering regulations that were being introduced in Korea. Mantas AML was localized to meet Korean requirements and the implementation is designed to help the bank comply with the Suspicious Transactions Reporting requirements of the Korean Regulator, the Korea Financial Intelligence Unit. The bank also wanted to expand its business in Asia, Europe, and the U.S and needed to increase its credibility with correspondent banks globally Supporting Quotes "The completion of the Oracle Mantas implementation at Korean Exchange Bank on schedule and in accordance with the bank's requirements is an important milestone for us. It demonstrates our ability to address Asian and specifically Korean AML requirements. With regulators in the Asia Pacific Market defining AML regulations rigorously it is time banks take proactive steps toward being able to comply with them. We commend KEB for taking a leadership role in this area," said S Ramakrishnan, CEO for Mantas and Reveleus. About i-flex solutions i-flex® solutions (Reuters: IFLX.BO and IFLX.NS), majority owned by Oracle, is a world leader in providing IT solutions to the financial services industry, with more than 790 customers in over 130 countries. Its strategy for financial services addresses the challenges that financial services institutions are faced with today. Its range of applications software, custom solutions and consulting services enable financial institutions to cut costs, respond rapidly to market needs, enhance customer service levels and mitigate risk. i-flex solutions has sought regulatory and share holder approval to change its name to Oracle Financial Services. Together, Oracle and i-flex solutions offer financial services institutions the world's most comprehensive banking applications and technology footprint to address complex IT and business requirements. i-flex and FLEXCUBE are registered trademarks of i-flex solutions. Daybreak, Mantas and Reveleus, are trademarks of i-flex solutions and are registered in several countries. All other company and product names are trademarks of the respective companies with which they are associated. Analytical applications for financial services i-flex's analytical applications offering for financial services comprises an integrated suite of award winning solutions - Oracle Reveleus and Oracle Mantas - that help financial institutions maximize profitability, minimize risks and deliver enterprise-wide compliance. The Governance, Risk & Compliance framework brings together Reveleus' unrivaled expertise in risk and control, coupled with Mantas' industry-leading behavior detection technology--both deeply rooted in the financial services industry. This combination helps financial institutions gauge the effectiveness of governance policies, manage business risks, and future-proof compliance expenditure across various regulatory mandates. Waters Magazine ranked Mantas as the Best Anti-Money Laundering Solution for 2007, 2005 and 2004 and Best Compliance Solution for 2003. The award was voted on by the subscribers of Waters, a monthly magazine that covers information technology and solutions in the financial services industry. For more information, please visit: www.iflexsolutions.com/iflex/solutions/analytical_applications.aspx. For more information on the press release, please contact: Parvez Ahmad i-flex solutions Phone: +65-6238-1900 extn 272 Mobile: +65-8161 2902 E-mail: parvez.ahmad@iflexsolutions.com Piya Roy Adfactors PR Phone: +91-22-2287-1361 Mobile: +91-98207 40379 E-mail: piya.roy@adfactorspr.com   analytical applications governance, risk and compliance     governance     compliance risk     anti-money laundering     trading compliance     broker compliance     fraud surveillance     operational risk enterprise risk management     retail credit risk     corporate credit risk     market risk     asset liability      management     basel II     economic capital customer analytics     crm analytics     channel analytics reveleus mantas customer accolades analyst coverage events     mantas     reveleus press releases     mantas     reveleus resources

products custom services consulting it infrastructure services kpo back