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About Oracle Financial Services Software

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. 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. 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.

Business Segments

The company’s business segments are segregated into products and services:
  • 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.
  • 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.
Subsidiaries  As of March 31, 2023, the company had 11 direct subsidiaries and a few of them are listed below:
  • 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.
  • 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.

Key Personnel

Makarand S. Padalkar, CEO and MD 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.

Corporate Actions

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

Parent Organisation
MNC Associate
Managing Director
Sridhar Srinivasan
Founded
1989
NSE Symbol
OFSS

Peer Comparision

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Community Discussion

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AngelOne
10th July 2024
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AngelOne
10th July 2024
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Oracle Financial Services Software Ltd FAQs

Oracle Financial Services Software Ltd (OFSS) share price as of July 22, 2024, on NSE is Rs 10804.05 (NSE) and Rs 10804.05 (BSE) on BSE.
Yes, You can buy Oracle Financial Services Software Ltd (OFSS) shares by opening a Demat account with Angel One.
Oracle Financial Services Software Ltd (OFSS) share can be bought through the following modes:
1. Direct investment: You can buy Oracle Financial Services Software Ltd (OFSS) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Oracle Financial Services Software Ltd (OFSS) shares.
The main business of Oracle Financial Services Software is to supply financial software, consulting, custom application development, outsourced business processing services, and IT infrastructure management services to the finance sector.
The main promoter of Oracle Financial Services Software is Oracle Global Mauritius Limited with a 73% shareholding as on 30th September 2022.
Some of the subsidiaries that come under Oracle Financial Services Software are Oracle Financial Services Software B.V., Oracle Financial Services Software Pte. Ltd., Oracle Financial Services Software America, Inc., ISP Internet Mauritius Company, Oracle (OFSS) Processing Services Limited, Oracle (OFSS) ASP Private Limited, and Mantas India Private Limited.
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