Bank Leumi USA extends Fidelity core processing agreement
30 April 2004 | 1600 views | 0
Fidelity National Financial, Inc. (NYSE:FNF), a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, and its Fidelity Information Services division announce that Bank Leumi USA has signed an early extension of its core processing outsourcing agreement on the Systematics system processed out of the vendor's Little Rock technology center.
Bank Leumi USA is a $5.3 billion subsidiary of the Leumi Group, Israel's leading banking group. Bank Leumi USA has been a satisfied Fidelity Information Services user since 1992 and under this new agreement continues the relationship for the next five years.
As part of this agreement, the bank has also purchased four products from Fidelity's TouchPoint(R) suite of customer interaction management solutions. TouchPoint Internet Banking(TM) and TouchPoint Account Analysis(TM) are scheduled for rollout in the third quarter of 2004, and TouchPoint Sales(TM) and TouchPoint Service(TM) are scheduled for pilot testing in October.
Bank Leumi USA, which specializes in international, commercial middle market and private banking, added TouchPoint because of its ability to provide the user with a comprehensive, real-time view of the customer's entire relationship. Bank Leumi USA's long relationship with Fidelity contributed to the decision to stay with the same family of products for front-end delivery of customer information. Another important consideration in the decision was TouchPoint's multicurrency capability, a new feature available with the new release of version 10.0.
According to Jose Paulucci, executive vice president and head of IT and operations for Bank Leumi USA, "We looked at several alternatives and decided that TouchPoint, combined with the Systematics core banking solution, provided the capabilities we were seeking to improve our application system infrastructure. Since we have an established relationship with Fidelity, we see it as an added advantage to use a single vendor."
Dr. Zalman Segal, chief executive officer of Bank Leumi USA, said, "We have embarked on an ambitious information technology plan to upgrade our systems. This work will allow us to achieve substantial improvements in client service delivery, management information reporting and monitoring capabilities. We will be able to provide our customers with state-of-the-art e-banking and an enhanced, competitive cash management system."
"Our expanded relationship with Bank Leumi USA is an important one for us and represents several significant milestones," said Ernie Smith, president of Fidelity Information Services. "In particular, this is the first implementation of TouchPoint with a Fidelity core processing user since we acquired the system last year, and it is also the first installation of the recently released TouchPoint 10.0 product with enhanced multi-currency capabilities."