Leumi UK has tapped Finastra to modernise its core banking systems in line with its new IT strategy.

The move represents a culmination of an overhaul to enhance its internal processes.

Finastra vice president global services Europe John Mitchell: “We are delighted to support Leumi UK during its transformation and pleased that we were able to complete the project together ahead of schedule.

“Our collaborative working relationship was a significant mitigation to the challenges faced with the onset of the pandemic.”

The upgraded core platform will help the bank to support growth, as it focuses in the specialist areas of hotel and property finance.

It also enables the bank to onboard new business more effectively, noted the vendor.

Leumi UK chief technology officer Alon Shmuel said: “This upgrade is part of the promise to our customers to constantly build upon the services and solutions we offer. Thanks to Finastra, we can ensure that we are using the latest software and most up-to-date technology to provide an even better, faster service to our customers.”

The project was wrapped up in less than nine months, noted Shmuel.

Leumi UK is a subsidiary of Israel’s Leumi Group, which has more than 220 branches across Israel.

Last month, Finastra’s mortgage business Filogix acquired the cloud-based point-of-sale (POS) mortgage application software provider Doorr.

Earlier this year, Finastra collaborated with Microsoft to expedite the digital transformation of financial services.

The two companies entered into a multiyear cloud agreement to expand the usage of technology in banking sector.