i-flex Solutions Ltd, a leading provider of IT solutions to the financial services industry on Wednesday announced the launch of its 'i-flex Process Framework for Banking (iPFB)', which is a tool for transforming banking operations.
IPFB would help banks to improve process efficiency while simultaneously managing operational risks by allowing them to optimise processes using a Business Process Management (BPM) approach, i-flex informed the Bombay Stock Exchange.
The company said banks could use iPFB to control operational risk and integrate diverse applications into a common operating environment. IPFB is a repository of processes that draws on best practices that the company has developed in working with more than 660 customers in over 120 countries, i-flex said.
"iPFB provides them (banks) with the tools to implement business process improvements without a major surgery to the supporting application and IT infrastructure," the company's CEO International Operations and Business Development R Ravisankar said.
Banks can use iPFB to accelerate their business process management (BPM) initiatives using a battery of processes to knit together diverse applications and manual steps.