Bank Hapoalim upgrades international branches with Financial Objects

Bank Hapoalim, Israels largest bank, has licensed Financial Objects IBIS S2 for private banking,credit management, commercial lending, trade finance, treasury and financial sanctions.The implementation is part of Bank Hapoalims overall programme to update its international branches. IBIS S2 will go live in the banks London and Manchester branches by early 2004. Bank Hapoalims selection of IBIS S2 will enable it to extend functionality, streamline processing, enhance customer service and facilitate compliance with the international accounting standards (IAS). The integrated front-to-back office solution will increase automation across all business areas, promoting operational efficiency and enabling the bank to process increased transaction volumes. IBIS S2s client server architecture gives users access to up-to-the minute client and product information, enabling them to understand and respond to customer needs more effectively. IBIS S2 will enable Bank Hapoalim to offer its clients a comprehensive array of private banking products and services, including securities, current accounts, term and call/notice deposits, spot and forward foreign exchange, issuing of guarantees, fixed term lending, and lodging of collateral. It will also fully support the banks trade finance activities. The bank will also implement Financial Objects advanced dealer support system for deal capture and risk management which is based on the latest activebank technology.