Israel’s Bank Leumi has selected GigaSpaces Technologies to expedite the deployment of several digital applications.

The lender will leverage GigaSpaces’ Smart DIH solution to execute the vision.

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This Smart DIH is based on GigaSpaces’ distributed in-memory data platform. It enables the development and roll out of digital services for organisations by decoupling their API-powered digital applications from their Systems of Record.

According to the company, the process accelerates innovation.

Alongside, Bank Leumi also made a strategic investment of $8m in GigaSpaces as part of a larger funding round. The investment was made through Leumi Partners investment arm.

GigaSpaces CEO Adi Paz said: “Demand for digital services is increasing to new heights and the world’s leading enterprises must innovate or perish.

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“GigaSpaces is committed to powering business-critical applications and providing our customers a solution to accelerate their digital transformation performance, regardless of how advanced they are in their transformation journey.

“Bank Leumi’s investment will enable us to stay at the forefront of innovation and is an additional testament to the confidence our customers have in GigaSpaces’ technological leadership.”

Bank Leumi CTO Jaime Schcolnik said: “The collaboration between Bank Leumi and GigaSpaces represents a significant realisation of our vision for the future of banking, by implementing GigaSpaces’ groundbreaking solution for fast and secured transfer of data from the bank’s core systems to the bank’s secured cloud.

“In this way our customers will benefit from faster and more secure digital banking services.”