Bank Leumi has awarded a multi-year contract to EDS to overhaul and modernise all of the Israeli bank's information systems.
Billed as the largest-ever computerisation project in the Israeli banking sector, the refit is expected to take between five to seven years and will entail the application of EDS' FinFrame architecture.
The project includes the development and adaptation of software systems in all areas of the bank's activity, says EDS. Over the contract period all major systems will be gradually migrated.
EDS is also providing technological and managerial support and is working with other Israeli companies, primarily Matrix, to recruit hundreds of employees to the project.
Itzhak Malach, first executive vice president and head of operations information systems and administration at Bank Leumi, comments: "Bank Leumi's computer and operational network will join the front rank of the world's banks as a result of this agreement."