Arkelis, a fully-owned subsidiary of financial messaging provider Swift, recently signed up all Israeli users of SunGard's Mint financial messaging platform in a dedicated replacement program that the company is conducting in close collaboration with SunGard.
With the agreement of, amongst other institutions, the Tel Aviv Stock Exchange and Mizrahi-Tefahot Bank, Arkelis is establishing a significant footprint in the Israeli banking landscape.
Arkelis' Advanced Messaging Hub (AMH) is a highly scalable, customisable, multi-network messaging hub. Its flexibility and agility allow financial institutions to quickly adapt their messaging services to new standards, products or services as well as to business developments. AMH can be implemented with a low initial set-up cost and is scalable in its roll-out strategy, supporting high volumes in a secure and resilient setting. At the same time, its modern, open architecture and ability to co-exist with existing infrastructures allow AMH to maintain a low Total Cost of Ownership (TCO).
Eldad Herstig, Vice President, Head of Back Office Division Information Technology & Operations, at Tel Aviv Stock Exchange, said: "We believe that AMH is the best solution to replace our current messaging infrastructure, enabling us to process our messaging volumes in the most efficient and secure way. We think that the flexibility and scalability of AMH will help us adapt to the rapid changes in the messaging and business area. The fact that Arkelis provides this messaging solution to other Israeli banks makes us feel comfortable we choose a good solution for our business."
Hans Cobben, Chief Executive Officer, Arkelis, said: "We are delighted that our Israeli customers have decided to build their new SWIFT messaging infrastructure on AMH. It shows top MINT customers' confidence in AMH as the successor of choice, and the success of the replacement program we have in place with SunGard."