Leading Israeli Mortgage Bank Modernizes IT Assets and Grows Market Share by 7%
Company Size
1,000+
Region
- Asia
Country
- Israel
Product
- Software AG’s Natural language
- webMethods ApplinX
- webMethods EntireX
Tech Stack
- Natural language processing
- Web-based applications
- Mainframe systems
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Productivity Improvements
- Revenue Growth
Technology Category
- Application Infrastructure & Middleware - API Integration & Management
- Application Infrastructure & Middleware - Data Exchange & Integration
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
- Sales & Marketing
Use Cases
- Real-Time Location System (RTLS)
- Supply Chain Visibility
Services
- Software Design & Engineering Services
- System Integration
About The Customer
Mizrahi Tefahot Bank is Israel’s fourth largest bank with approximately 3,500 employees and 110 branches. Considered the country’s largest mortgage bank, Mizrahi Tefahot manages one-third of Israeli housing loans. More than 300,000 households use the bank’s services. The bank also serves more than 100,000 deposit, savings and pension-fund customers. In addition to financing mortgages, Mizrahi Tefahot also handles mortgages financed by the state treasury valued at approximately 56 billion New Israeli Shekel (NIS). The bank's main focus is its customers and it aims to directly connect with them through various communications channels and offer them custom-tailored products quickly and easily.
The Challenge
Mizrahi Tefahot Bank, Israel’s fourth largest bank and the country’s largest mortgage bank, was facing stiff competition in the dynamic Israeli banking industry. The bank wanted to reach customers in new ways and offer custom-tailored products quickly and easily. However, the bank's legacy systems did not fit the bank’s ongoing business and legal requirements. The competition among banks was harsh and, in order to succeed, the bank had to change the way it handled customers and the products it offered. The bank’s IT infrastructure integrates core mainframe systems with applications running on open environments, such as Customer Relationship Management (CRM), optical archiving and Web-based applications. The bank clerk’s desktop included both 3270-emulation and .NET applications, requiring them to switch between screens while working with the customer.
The Solution
Mizrahi Tefahot Bank chose to develop its core business systems using Software AG’s Natural language, webMethods EntireX and webMethods ApplinX. The bank first developed a customer system to manage and optimize customer data from the core systems. The system has become the bank’s singular customer management resource. It’s written entirely in Natural and holds all relevant information on more than 750,000 customers while it maintains full connectivity with all other Mizrahi Tefahot Bank systems. Now users have a complete and encompassing view of each customer. The customer system utilizes an authorization process that allows bank employees to perform actions based on hierarchy and allows customers to utilize the advanced services the bank offers via the Web. Today, bank employees can receive any relevant detail required for issuing a loan in real-time, from connectivity to the government’s population registry, and this is fully integrated with all the other bank systems.
Operational Impact
Quantitative Benefit
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