Laying the groundwork for more responsive, future-facing banking services
Ramat Gan, Israel
Israel’s third largest bank by assets, Mizrahi Tefahot provides a comprehensive range of commercial, personal and domestic banking services. To build on its leading position in the competitive Israeli banking sector, Mizrahi Tefahot will deploy Temenos Transact to support its capital markets division, accelerating access to accurate, real-time data for employees and customers. The move will help the bank realise its expansion goals, driving product and service innovation and future-proofing systems. By carving out an edge over competitors with help from Temenos, Mizrahi Tefahot is laying the foundations for a long and successful future at the forefront of the Israeli banking industry.
”Most Israeli banks are still based on core banking systems installed decades ago. Replacing Mizrahi Tefahot’s core system for capital markets will in fact be the first step of one of the largest banks in the sector, and it is reasonable to assume that additional moves will follow”Spokesperson of the bank