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I bet flexcube is extremely expensive software too. And I dont just mean because of the mistakes that must be made all the time.

• noisy_boy 6y ago
  Flexcube was developed by i-Flex Solutions which was originally called Citicorp Information Technology Industries Ltd (CITIL) and was actually spun off Citibank. Citibank invested about USD 400,000 in it and though I don't have direct details of how much they paid to use it, it wouldn't be a bad guess to assume that as the original/founding investor in the firm, they probably got a very sweet deal. Oracle buying Flexcube from i-Flex happened much later. I remember using Infosys's Finacle in 1998 (it was called Bancs2000 then). It had a TUI interface and was very snappy until they moved to a web based version and called it Finacle. We hated it because it couldn't keep up with muscle memory everyone had developed on the TUI. Flexcube came a bit later and started to gain momentum around 2005-2006. PS: also wanted to add that most of the issues I've seen in these banking software are due to never-ending customizations demanded by the banks. The core products are usually well designed. There is basically an entire industry around core banking customizations and a lot of people working in that are basically old-school bankers who have migrated to technology (nothing wrong with that) - a good portion of them have excellent business knowledge but not much idea of UI/UX.