Bangalore: i-flex Solutions yesterday announced that State Bank of India, Frankfurt, has selected Flexcube as its core banking solution.

Flexcube will replace the bank''s existing system that has been operational for the last eight years. SBI Frankfurt, one of the largest branches of SBI abroad, chose Flexcube for meeting its operations requirement and full compliance with the local regulatory reporting and clearing interfaces that are mandated by the country''s central bank.

One key evaluation criteria, among others when SBI decided to opt for Flexcube compared to other packages, was its Real Time Gross Settlement (RTGS) capabilities.