Leumi UK completes core banking upgrade with Finastra
London, UK – November 17, 2020 – Leumi UK, the London subsidiary of Israel’s largest banking group, has selected Finastra, one of the world’s largest fintechs, to upgrade its core banking systems.
For Leumi UK, this is the culmination of an extensive bank-wide programme to boost the efficiency of internal processes. The upgrade provides a solid foundation on which to make further improvements to the speed and functionality of Leumi UK’s processes.
The enhanced core banking system is a fundamental component of Leumi UK’s new IT strategy, as defined by Chief Technology Officer, Alon Shmuel. This will enable the bank to focus on business growth, as it builds momentum in its specialist areas of hotel and property finance. With this latest technology in place, it is now better equipped to onboard new business and ultimately improve the overall customer experience.
Alon Shmuel, Chief Technology Officer at Leumi UK, says: “This upgrade is part of the promise to our customers to constantly build upon the services and solutions we offer. Thanks to Finastra, we can ensure that we are using the latest software and most up-to-date technology to provide an even better, faster service to our customers. We are very grateful to Finastra for the expertise, dedication and professionalism they exhibited as we undertook this ambitious endeavour together. Their support allowed us to complete the project in under nine months, despite the challenges we faced from the Coronavirus pandemic.”
John Mitchell, Vice President Global Services Europe at Finastra said, “Finastra has worked hard to deliver a robust services strategy that enables us to support customers, like Leumi UK, and help them to achieve their goals, whether for a new implementation or a core upgrade. This is particularly crucial with current restrictions preventing us from being on the ground with our customers. We are delighted to support Leumi UK during its transformation and pleased that we were able to complete the project together ahead of schedule. Our collaborative working relationship was a significant mitigation to the challenges faced with the onset of the pandemic.”
For further information please contact:
For Leumi UK:
T: +44 (0) 20 7655 1710
T: +44 (0) 20 3217 7066
PR Manager, EMEA
T: +44 (0)7825 088185
About Leumi UK and Leumi Group
Leumi UK is a UK-regulated bank offering a wide range of corporate and commercial banking services to both UK based and international clients. An integral part of the Leumi Group founded in London in 1902, the Bank operates through its Head Office in London and its award-winning Asset Based Lender subsidiary, Leumi ABL in Brighton. Activities include commercial finance, trade finance, with a particular expertise in financing cross border trading, property finance and hotel finance. The bank serves its clients with deposit accounts, hedging and foreign exchange capabilities and a full treasury offering.
Leumi UK is a subsidiary of the Leumi Group, one of Israel’s largest banking groups and a reputable global banking institution. The Group operates over 220 branches across Israel, alongside offices in key financial centres worldwide. The Group offers a comprehensive range of specialised financial services.
Bank Leumi (UK) plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Supported by the broadest and deepest portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes across the globe, including 90 of the world’s top 100 banks. Our open architecture approach brings together a number of partners and innovators. Together we are leading the way in which applications are written, deployed and consumed in financial services to evolve with the changing needs of customers. Learn more at finastra.com.