The bank has an option to expand implementation in the future to manage the entire loan system. Ness Technologies and the bank's IT teams will jointly establish the system. FIBI will be Israel's first bank to implement such a system.

The CML system enables establishment and business management of loan products for private and business customers. The system's workflow processes make it possible to automate the work processes connected to the loan's lifecycle, including the phase of expressing interest, proposal, loan approval, making the loan and managing its lifecycle, including correspondence, collection, and more.

"The First International Bank's selection of an SAP-based solution matches the international trend in the financial sector of preferring off-the-shelf solutions and software packages over traditional self-development, which was the accepted practice in the past," said Amnon Beck, chief executive officer of Mataf, First International Group's IT company. "In this approach we achieved a double business advantage: the ability to build new financial products quickly for our clients (time to market), and a rapid return on investment (ROI) by reducing the system's ongoing maintenance and operational costs. The system will make it possible to streamline and improve customer service, and increase the product spectrum and business offerings made to clients." Beck added that FIBI is a financial sector pioneer in many IT spheres, such as outsourcing, and that it is continuing this leading approach by implementing an advanced software package for its core business.

"The new system is SAP's third core banking system selected by FIBI," said Iris Levanon, deputy to Mataf's CEO and applications manager. "We selected SAP's system and Ness Technologies following our good experience in implementing the core system for interest calculation management in foreign currency current accounts. Implementation of that project was conducted within just seven months, enabling us to meet the goals we set for ourselves when we began the project. We are currently implementing an SAP integrated collateral system."

"The bank's selection of SAP systems and Ness Technologies is recognition by the bank's management of the quality of the solution and of the answer that it gives to infrastructure and integration matters. It also recognizes Ness' level of service and performance capabilities, and the company's ability to bring the project to a successful completion," said Shachar Efal, president of Ness Israel. "It is the first time this innovative solution is being implemented in Israel. We are proud that FIBI decided to be a trailblazer in this sphere, and that it selected us to help it implement this solution."

"The implementation of SAP's new solutions will enable FIBI to create a competitive advantage in Israel's banking industry, and enable the bank to provide its customers with leading solutions in a very short time," Efal added.

"The Israeli market is beginning to internalize the fact that SAP offers a wide variety of solutions, including designated solutions for different sectors, including banking, and SAP's consumer and mortgage loan system (SAP CML) is one of SAP's core systems for this field," said Ishay Shniadower, manager of SAP Group, Ness Israel. Core systems, as opposed to ERP systems, are designed to computerize the main business processes, helping the core business, and their quality has a direct impact on the organization's business performance and results.

"The CML system has been implemented in more than 700 organizations worldwide," said Shniadower. "FIBI is the first financial institution in Israel that has chosen to implement this system, and what is special here is that it chose to start with core solutions, and not with SAP's ERP, as other financial customers did. The new solution's implementation follows the implementation of a late interest calculation engine, and of the collateral system currently being implemented by the bank."