Bank Hapoalim, Israel's largest bank, has licensed Financial Objects Ibis/S2 platform to support commercial and private banking activity at its UK branches.
The platform is expected to go live at the bank's London and Manchester branches by early 2004.
Ibis will support the bank's private banking, credit management, commercial lending, trade finance and treasury operations. Financial Objects says the platform will enable the bank to streamline processing and improve customer service as well as comply with international accounting standards (IAS).
Ilan Shellef, UK general manager, Bank Hapoalim, says: "We are confident that it (Ibis/S2) will enable us to achieve both our business and operational goals."
The bank will also implement Financial Objects' dealer support system, which is based on the vendor's activebank software.