Bank Leumi, The Leading Bank In Israel, Selects GigaSpaces’ Smart Digital Integration Hub And Announces A Strategic Investment In The Company

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, 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.

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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.”

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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.”