MOST Technologies selected by Mizrahi Tefahot Bank to upgrade bank’s Applications to allow for multi-bank processing

Tuesday, 1st September 2009

Further to a recent acquisition Mizrahi Tefahot Bank (“UMTB”) wishes to upgrade their IT systems so as to allow for multi-bank processing.

MOST Technologies has been selected by Mizrahi Tefahot Bank Ltd. (“UMTB”) to conduct an application remediation assignment to upgrade existing IT applications in order to handle processing of a multi-bank environment.

“The bank deemed it extremely important to modify existing application code in order to maintain one code instance that would serve multiple banks,” said Ofer Farhi, MOST Technologies senior project manager assigned to the engagement.

It is the bank’s intention to continue to run the acquired entity as an independent entity being served by UMTB’s current application portfolio. As such MOST Technologies will parse the current application portfolio to identify and change the relevant areas in the application that need to be expanded to handle a multi-bank environment. All Databases are to be duplicated – each bank having its own Database. Job Control will be duplicated and modified to meet the new bank’s operational needs.

UMTB is an international financial institution with $19 billion in assets and more than 110 branches throughout Israel and subsidiaries in major banking centers worldwide.

MOST Technologies is company dedicated to the modernization of legacy mainframe applications. This modernization includes, amongst other items, Application Remediation, Application Enhancement, Database migrations and Application code conversions based on MOST Technologies’ proprietary technology – OnTarget.