Oracle Financial Services Software Ltd is a subsidiary of Oracle Global (Mauritius) Limited. It provides financial software, custom application development, consulting, IT infrastructure management, and outsourced business processing services to the financial services industry. The company was incorporated in 1989 as Citicorp Information Technology Industries Ltd. In 2000, it was renamed as i-flex Solutions Limited in order to create an independent brand name. In 2002, the company was listed on BSE and NSE after an IPO to the public._x000D_ _x000D_ In 2005, i-flex entered a strategic alliance with Castek Software Inc., a Toronto-based provider of insurance systems for the global Property & Casualty (P&C) insurance industry. Again, in 2008, the company changed its name to Oracle Financial Services Software Ltd from i-flex Solutions. It Introduced Oracle FLEXCUBE Multi-Channel Solution on Direct and Mobile Channels for the Financial Services Industry in 2012._x000D_ _x000D_ The company launched a series of updates to Oracle CX Marketing within the Oracle Cloud Customer Experience to help make every customer interaction matter in 2020. In 2022, the company was recognised as a leader in the 2022 Gartner Magic Quadrant for Global Retail Core Banking._x000D_

Business Segments

_x000D_ The company’s business segments are segregated into products and services:_x000D_

_x000D_
• Products: The company provides a wide range of IT solutions to financial institutions of different sizes and scales. The major financial products cater to retail banking, and a few of the products are Oracle Banking Platform, Oracle Banking Cash Management, Oracle Banking Liquidity Management, etc.
_x000D_
• Services: The services business includes Oracle Finergy, a consulting services business, and Oracle Financial Services BPO Services, which provides cost-effective and high-quality BPO services.
_x000D_

_x000D_ Subsidiaries _x000D_ _x000D_ As of March 31, 2023, the company had 11 direct subsidiaries and a few of them are listed below:_x000D_

_x000D_
• Oracle Financial Services Software B.V.: The company is a wholly-owned subsidiary which was incorporated in the Netherlands. The company’s business includes providing computer programming services.
_x000D_
• Oracle Financial Services Software Pte Ltd: It is a wholly-owned subsidiary which was incorporated in Singapore. The company’s business includes providing computer-related services and consulting.
_x000D_

_x000D_

Key Personnel

_x000D_ Makarand S. Padalkar, CEO and MD_x000D_ _x000D_ Makarand S. Padalkar is currently the CEO and MD of Oracle Financial Services Software Ltd. He was appointed to this position in October 2023. Before this, he was the Chief Financial Officer & Director of the company._x000D_

Corporate Actions

_x000D_ The company has no history of bonus issues, stock splits and other corporate actions.