Bank Leumi, The Leading Bank In Israel, Selects GigaSpaces' Smart Digital Integration Hub And Announces A Strategic Investment In The Company
NEW YORK, Nov. 16, 2021 /PRNewswire/ -- GigaSpaces Technologies, the leading provider of Digital Integration Hub ("DIH") software solutions that enable large enterprises to expedite and scale the delivery of online, customer facing applications, today announced that its Smart DIH solution was chosen by Leumi Bank to power its digital innovation. Furthermore, Leumi has made a strategic investment of $8 million in GigaSpaces through its Leumi Partners investment arm, leading a larger investment round which included participation from existing investors Fortissimo Capital, BRM Group and Claridge Israel.
GigaSpaces' Smart DIH solution was selected by Bank Leumi to execute on the bank's core strategic digital vision, to power faster deployment of several digital applications with ultra-high performance and scale.
GigaSpaces' Smart DIH allows organizations to rapidly develop and introduce a large number of new digital services by decoupling their API-powered digital applications from their Systems of Record, to simplify and speed up their digital transformation.
"Demand for digital services is increasing to new heights and the world's leading enterprises must innovate or perish," said Adi Paz, GigaSpaces' CEO. "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."
Jaime Schcolnik, CTO of Bank Leumi said: "The collaboration between Bank Leumi and GigaSpaces represents a significant realization 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."
Yuval Zehira, Chief Investment Officer of Leumi Partners said: "This investment is part of our strategy to diversify our portfolio to include investments in promising tech companies. GigaSpaces demonstrated significant growth in recent years, while its key customers continue to expand using their solutions."
About GigaSpaces
GigaSpaces is building on its in-memory computing and operational data store technologies to offer one of the market's first Digital Integration Hubs (DIH), an out-of-the-box solution that simplifies organizations' digital transformation, while drastically lowering legacy systems' TCO.
GigaSpaces' offices are located in the US, Europe and Israel with partners around the globe; serving customers such as Morgan Stanley, Bank of America, CSX, Goldman Sachs, Societe Generale, Credit Agricole, American Airlines, CLSA, and Groupe PSA.
Whether you need to accelerate one application with cache, or modernize your entire architecture with a Digital Integration Hub, the GigaSpaces in-memory data platform can future-proof your investment. Never before has it been this straightforward to accelerate API-powered digital applications to transform user engagement, legacy modernization, and 'Customer-360' software infrastructure projects. Smart DIH is part of the GigaSpaces Smart suite of products, alongside the award-winning Smart Cache solution. For more information visit www.gigaspaces.com.
About Bank Leumi
Bank Leumi (TASE: LUMI) is Israel's leading banking corporation, providing comprehensive financial services and holding an approximate 30% domestic market share. Leumi is traded at a market cap of some NIS 43 billion ($13.5 billion). As at June 30 2021, Leumi reported a net profit of NIS 3.07 billion ($922 million), with total assets under management reaching NIS 597 billion ($187 billion). For more information visit www.leumi.co.il.
About Leumi Partners
Backed by one of Israel's largest banking groups, Leumi Partners is the leading Israeli financial firm active in merchant banking and offerings broad investment banking and research services of the highest standard.
Established in 1980, Leumi Partners has grown to become Israel's premier merchant and investment bank, solely responsible for managing the largest operating company investment portfolio in the Israeli banking sector. Leumi Partners works closely with a number of leading global investment banks on different cross-border projects. In addition, 'Leumi Partners Underwrites' led some of the biggest debt raises for US based RE companies in the Israeli market.
Leumi Partners specialize in the following lines of business: Direct Strategic Investments, Underwriting & Advisory, Mergers & Acquisitions, Real Estate Specialty Financing, Technology Investment Banking and Equity & Debt Research. For more information visit www.leumipartners.com.
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