BankingBank Leumi (UK) powers up treasury, trading and sales with new platform

Bank Leumi (UK) powers up treasury, trading and sales with new platform

Platform will provide the bank with increased visibility and management of its exposure and risk, while also meeting its increasing regulatory reporting requirements.

Bank Leumi (UK), the subsidiary of the Leumi Group, one of Israel’s largest banking groups, is implementing Eurobase’s Siena platform to support its FX treasury management.

The bank, which offers a range of corporate banking services to both UK-based and international clients, decided to implement the platform following a formal selection process.

Leumi (UK) operates through its Head Office in London and its award-winning Asset Based Lender subsidiary, Leumi ABL in Brighton. Activities include commercial finance, trade finance, with a particular expertise in financing cross border trading, commodity finance, financing Israeli related business, property finance and hotel finance.

Treasury activities

Dav Frank, Chief Operating Officer at Bank Leumi (UK), adds: “As one of the most trusted and reliable treasury management software providers in the market, we are delighted to have selected Siena as our platform to undertake the bank’s treasury activities including regulatory reporting and compliance management requirements. Bank Leumi is underpinned by its client-centric, solutions-driven approach, and we are confident that the Siena platform will help to strengthen our offering.”

Commenting on the selection, Joe Locke, CEO of Eurobase Banking Solutions, added: “Eurobase is pleased to have been selected by Bank Leumi (UK). Siena will support the bank’s continued commitment to its customers and will provide the bank with increased visibility and management of its exposure and risk, while also meeting its increasing regulatory reporting requirements. We look forward to delivering a successful implementation and providing a long-term partnership to the bank.”

Bank Leumi (UK) is the latest bank to implement Siena. Earlier this year it was announced that RCB Bank, one of the largest banks in Cyprus and among the European significant Banks, had selected Siena as its treasury, trading and sales solution, including an online customer dealing platform.

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