From Yahoo News:


BANGALORE, Jan 16 Asia Pulse - I-flex Solutions (BSE:532466) on Friday said it was working with IBM to build next generation architecture focusing on real time, enterprise-wide view of data and business process optimisation to tap the growing market for information technology in financial services such as banks.

"Global IT spending in banks is moving from internal to external, third party solutions and therefore the data as an organisational asset and business process optimisation are the buzzwords", R Ravisankar, CEO-International Operations and Business Development, i-flex solutions, said.

"This is very relevant for India as the financial services industry is steadily integrating with the global economy," he said, while giving an overview of the global trends in financial services industry.

The implications of this for IT are "devising flexible, interoperable scalable systems, realtime data, business process optimisation along with built-in security and compliance and ensuring business continuity which will include enterprise risk management," he said.

The financial market globally today is in a state of flux and increasingly competitive with non-traditional players like Wallmart and Sony, entering the field.

Increased deployment of internet has led to a "perfect information market", which in turn, has led to rising customer expectations with the banks being benchmarked against the best, he said.

(PTI)