Professional Documents
Culture Documents
I Flex
I Flex
To make financial
insitutions excel in
their business
Customer
Domain Expertise
Centricity
Focus on being a
Focus on solving specialized
Understand
customers' company than
customer business
business problems horizontal services
company
Two major
departures from
conventional
product
FLEXCUBE
development
Crafting future becoming the top
approach during
plans and getting Multiple debates selling banking
To become an FLEXCUBE
employees with on product solution globally
unconventionally development
risk taking and architecture, in 2002
customer centric
company giving entrepreneurial technology to be
end to end spirit onboard used, database
banking solution etc.
iFlex clearly understood that to take forward its vision of continuously serving the customers
closely by understanding their business needs, it needs to innovate with changing times. The
iFlex leadership also understood that along with staying at the forefront of technology
upgradation, it also needs to expand its reach which at that point in time was limited.
The offer to merge with Oracle brought the kind of reach iFlex was hoping for its products
and platform to get. Though the partnership took away full control from Hukku and team, it
offered greater flexibility in terms of iFlex’s customer expansion and product streamlining. By
2015 FLEXCUBE had more than 1000 customers across 130 countries showing that the merger
with Oracle did bring the kind of scale iFLex was expecting pre-merger. From mere leadership
angle, Hukku might have stayed better off without the merger but he was visionary enough
to understand the resource gaps in CITIL and how Oracle can fill those gaps and lauch iFlex’s
core product FLEXCUBE on the path of becoming global leader in financial services software
space for times to come.
References:
1. https://knowledge.wharton.upenn.edu/article/i-flex-solutions-rajesh-hukku-no-one-dreamed-that-400000-
would-become-almost-600-million-in-13-years/