Bank Leumi is Israel's oldest bank, having founded in 1902 as a subsidiary of the Jewish Colonial Trust. Its primary aim was to promote industry, construction, agriculture and infrastructure in the land that was to subsequently become Israel. Today, it is Israel's largest bank by total assets ($198.1 billion as at the end of 2022) and in branch numbers and with overseas offices in many world capitals. The bank is in the hands of private investors, although the government is the largest single shareholder. It leads the digital banking sector in Israel with a host of innovative digital products and services.
Bank Leumi has a fintech company, called FinTeka, which provides fintechs with access to the bank's open banking operations, infrastructure and capabilities. The bank has engaged Amazon Web Services as a strategic partner.
HELPING FINTECHS
FinTeka, Bank Leumi describes, is a dedicated open banking subsidiary. Through this, the bank aims to create a new, agile fintech culture and simplify communications with its external developer community. It aims to create an API marketplace that would support the bank's open banking strategy.
What FinTeka does is to offer external developers an easy access to a rich portfolio of open PIs so they could create new, exciting customer experiences. The bank has identified global digital transformation company GFT as its delivery partner in this effort. The 2 together aim to:
This story is from the September 2023 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 2023 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Kamdhenu & Sammrudhi loans top rural customers
Unnayan Bharat Finance Corporation (UBFC) Director & Co-Founder Avneesh Trivedi shares the company's attempts to enhance the rural lending environment & deliver better services to its consumers:
It's going to be a 'world' of CBDCs
Practically, every central bank in the world is testing and readying a CBDC system:
Training for behavioral & social skills is key
3 CHROs from the top BFSI companies in India open up about their training and motivation programs aimed at enhancing employee effectiveness. The story is divided into 4 parts: (i) functional and behavioral training, (ii) manager to leadership training, (iii) learning-based training, (iv) motivational programs:
THE AI COMPASS
Artificial Intelligence has risen to be the hottest topic of discussion today. It is expected to impact everyone, and the impact could exceed that of war, global warming, supply chain disruptions, geopolitics, and much more.
To mentor & coach emerging leaders
Manish Shah, MD & CEO of Godrej Capital, outlines his focus areas today and in the future:
Innovation will unlock India's Mission 'Atmanirbhar’
Sunita Handa is Chairman, Toyota FSIN and Principal Advisor & TLAB Chairman, Protectt.ai Labs. She shares her current activities and her deep insights on innovaiton in an interaction with Manoj Agrawal:
Algorithm is the Boss
Irem Sayeed, Chief Credit Officer at U GRO Capital, dwells into business focus and modernization at the lender:
Fintech and Neobank under the same Umbrella
It was started in 1902 to build what came to be called Israel:
Bajaj Allianz Revolutionizes Employee's HR and IT Experience with WhatsApp, MS Teams, Al and Automation
A productivity booster shot at BALIC:
Small Beginning for a Big Opportunity
AMU Leasing's focus on serving the underserved market of individuals and fleets looking for financing for electric 3-wheelers and 2-wheelers:
