Israel Discount Bank and Infosys Technologies Ltd. today announced that Israel Discount Bank (IDB), a leading financial group and the third largest bank in Israel has selected Finacle e-banking solution. Finacle e-banking will enable the bank to leverage Internet and mobile channels towards accelerating the growth of its corporate/SME and retail banking business. Finacle e-banking solution will form a key component of the bank’s portalisation strategy and will be offered as a portal-enabled solution on IBM technology.

IDB’s new business strategy to leapfrog competition in the e-banking arena triggered the modernization of its technology platform. The bank planned to use the e-banking platform to launch innovative products and to provide enhanced customer service through the Internet and mobile channels. Towards this end, the bank needed faster time-to-market for launching new features and products for its SME & retail banking operations, previously managed on software applications developed in-house. Infosys shall be partnering with Israeli technology services firm, Taldor for implementation of the e-banking platform.

Mr. Shai Vardi, Deputy Director Operation & IT Division, Israel Discount Bank comments, “Our present market environment required a radical transformation in our e-banking infrastructure to improve our performance and enhance the channel experience for our customers. We chose Finacle for its proven new generation solution and excellent delivery track record backed by a global technology leader like Infosys. We are delighted to partner with Finacle and look forward to enhancing our productivity leveraging Finacle.”

Finacle e-banking solution leverages the latest technological development providing a richer and convenient user experience to the bank’s customers. Leveraging a proprietary context aware real-time transaction mobile middleware, the solution provides a unique user interface on each hand-held device and would enable the bank to offer differentiated mobile banking services in the local market. IDB corporate, retail and SME customers will be able to make enquiries and transactions through internet and mobile banking, which also includes making payments to beneficiaries and third party service providers. With robust security features, a rich visual experience and higher scalability the solution will enable the bank to innovate and adapt to changing customer requirements.

Commenting on the win, Sanat Rao, Vice President & Head-Worldwide Sales, Finacle, Infosys Technologies, said, “This win is a significant breakthrough for Finacle as it further consolidates our position in the fast growing EMEA region. We are delighted to partner with a progressive bank like IDB which aims to establish a position of leadership in Israel. We are confident that with Finacle e-banking, IDB will be able to achieve its objectives of innovation and customer delight.”

Taldor, the local business alliance partner of Finacle and one of the leading providers of technology services in Israel, has been contracted by IDB as the prime contractor for the implementation of this project. According to Doron Sapir, CEO, Taldor, “We are delighted to partner with IDB and Finacle in this technology upgrade exercise and are committed to ensuring that IDB achieves its future growth plans for the region.”

As a leader in banking transformation, Finacle has a global footprint across 61 countries and has been acknowledged by top analysts including Gartner, Forrester and Celent among the leaders in the core banking solution space. Finacle is also the winner of a series of awards for its innovation and implementation capabilities, the most notable ones being The Banker Technology Award and The Asian Banker IT Implementation Award.

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