The board of directors of i-flex solutions Ltd. (Mumbai), approved a proposal to change the name of i-flex solutions Ltd. to Oracle Financial Services Limited, subject to regulatory and shareholder approvals. The proposed new name reflects the company's close strategic and operational alignment with its parent, Oracle Corp. (Redwood Shores, Calif.), which owns 81 percent of the company.
According to the company, the new branding strategy demonstrates the synergies of scale, resources, expertise and efficiency across the two organizations. The current management team under N.R.K. Raman, CEO and managing director, will continue to run the operations of the company.