Bladex selects i-flex to lead its Technology Transformation Process

Mumbai, November 10, 2005: Banco Latinoamericano de Exportaciones S.A. (NYSE: BLX) (Bladex), a leading provider of trade finance in Latin America and the Caribbean, announced today that it has chosen i-flex® solutions (Reuters: IFLX.BO & IFLX.NS) to lead its technology transformation process. Bladex is i-flex’s first customer in Panama and the Central American region and is testimony of the company’s continued success across the Latin American region.

Bladex is also the first bank in Latin America to opt for a comprehensive suite of solutions from i-flex, encompassing FLEXCUBE®, ReveleusTM, FLEXCUBE Reporting Services (FRS), Business Process Consulting Services and Technology Deployment and Management Services (TDMS).

The solution will allow Bladex to focus on its core business by automating its processes and enabling easy and fast dissemination of information to its affiliates.

"We are excited about having found in i-flex a competitive technology for the information and processing needs for the company," stated Bladex’s Chief Executive Officer, Jaime Rivera. He added, "Such a best-in-class platform reduces the risks often associated with comparable type implementations, and speeds our deployment of new services for our clients."

The Bank chose FLEXCUBE because of its capability to scale up to future expansion plans and its ability to serve as a platform for the bank to offer new products and services to its clients. In addition, the technology will help put in place an efficient reporting infrastructure for the Bank in line with compliance requirements of regulatory bodies both in Panama and the USA.

"Banks in Latin America are moving away from proprietary technologies and increasingly opting for flexible solutions to broaden the scope of their offerings and increase profitability. i-flex is proud to help Bladex take the initiative in this regard. The nature of the implementation showcases the breadth of our offerings across products and services and also demonstrates our ability to resolve real world problems faced by banks," said R. Ravisankar, CEO, International Operations and Business Development.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development