Ness Technologies, a provider of IT services and solutions, has announced that the First International Bank of Israel has selected Ness Technologies and SAP to establish a core banking system for mortgage management through SAP's Consumer and Mortgage Loans system.
<p>The Consumer and Mortgage Loans system enables the establishment and business management of loan products for private and business customers. The system's workflow processes make it possible to automate the work processes connected to the loan's lifecycle, including the phase of expressing interest, proposal, loan approval, making the loan and managing its lifecycle, including correspondence, collection and more. <br /><br />The First International Bank of Israel (FIBI) has an option to expand the implementation in the future to manage the entire loan system. Ness Technologies and the bank's IT teams will jointly establish the system. <br /><br />Amnon Beck, CEO of Mataf, First International Group's IT company, said: The First International Bank's selection of an SAP-based solution matches the international trend in the financial sector of preferring off-the-shelf solutions and software packages over traditional self-development, which was the accepted practice in the past.</p>