Budapest, October 13, 2008

IQSYS Informatikai és Tanácsadó Zrt. is planning an investment of 3 million USD to expand its regional competence center, with the support of its parent Magyar Telekom.

The IQSYS FlexCube Competence Center, to provide services for all of Europe, will expand its current consultancy staff by 50 in three steps; the first batch of 15 consultants are already receiving training.
Cooperation between iFlex Solution and a predecessor of IQSYS began back in 2001 under a Sales Partnership Contract. In an effort to satisfy growing domestic demand, the IQSYS – iFlex Competence Center was commissioned in 2004 and it is now capable of managing 2-3 major implementation projects simultaneously.
Seeing the growth opportunities of the region, the owners of iFlex, together with Oracle and IQSYS considered that it was time they rolled out their Implementation Partnership Contract beyond our borders.

The capacity expansion is justified, on the one hand, by significant regional interest in the FlexCube, and on the other hand by the fact that IQSYS attaches strategic importance to its Hungarian and foreign iFlex projects. The closely cooperating expert teams of iFlex Solutions and IQSYS have already been involved in the joint implementation of several Hungarian (Banco Popolare, FHB Bank, Allianz Bank, OTP Bank) and foreign (the Ukrainian Unicredit, the Dutch Friesland) projects. In future, however, in the framework of a cooperation with Oracle Financial Services, IQSYS FlexCube Competence Center will handle much more far reaching projects in a geographical sense too.

Originally, the FlexCube product group was designed for banks, in this sector IQSYS is one of the biggest suppliers, but its sophisticated account management function is very popular outside the financial sphere, too. Almost 6000 specialists in 14 competence centers support their over 600 enterprise and government agency customers in 120 countries of the world. Since 2002 it has held the first place in integrated banking systems. Its functions comprise the retail, corporate and investment business areas and the entire range of related business activities.

For more information visit the www.iqsys.hu website.