Crystal Opens FIBI's Legacy Banking System to the Web and e-Commerce Technologies.Business/Technology Editors HERZLIA, Israel--(BUSINESS WIRE)--Dec. 7, 2000 Crystal Systems Solutions Ltd. (Nasdaq:CRYS), part of the Formula Group (Nasdaq:FORTY) The First International Bank of Israel The Bank of Israel (Hebrew: בנק ישראל) is the central bank of Israel. The Bank of Israel is located in Jerusalem, with a branch office in Tel Aviv. (FIBI FIBI Filed But Impracticable to Transmit (National Weather Service) ) with 82 branches and $13.37 billion on deposit as of Sept. 30, 2000, is now providing full banking services directly to their clients via the Web. FIBI re-engineered their existing legacy software through eMulticonn, part of Crystal Systems Solutions' Web enabling offering. At the First International Bank of Israel, like at most large financial enterprises, a large investment in time, money, and more importantly, business rules, complex logic, and corporate `culture' has been built into their legacy systems. FIBI preferred these proven, secure legacy banking systems to serve their clients directly through the Web and other e-Commerce technologies. FIBI used Crystal's Web enabling technology in order to achieve required customer connectivity. Crystal's offerings are aimed at preserving the integrity of legacy systems and to further capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the investment in them by enabling the use of advanced technologies. Through the use of eMulticonn, with its innovative and unique Crystal proprietary technology, FIBI enabled its legacy banking systems to integrate within the e-Commerce environment, including the Web. "At Crystal Systems Solutions, legacy is our strength," says Mr. Ron Crystal, Crystal's eMulticonn visionary. "We enable existing legacy systems by integrating them into the new technologies of e-Commerce. There is no separate Web banking system or "screen scraping Acquiring data displayed on screen by capturing the text manually with the copy command or via software. Web pages are constantly being screen scraped in order to save meaningful data for later use. ". This is a true re-engineering process that leaves the legacy systems, their logic, rules, and culture intact, and as maintainable as before by the client's existing programming staff. Nevertheless, the systems are now enabled to be accessed through today's and tomorrow's e-Commerce technologies." Mr. Yossi Levy, Managing Director of Mataf, First International Bank of Israel's Information Technology Subsidiary, is proud of the results: "The First International Bank, has, without a doubt, the most advanced and complete Web offering to its clients. And this is simply because it uses our own legacy systems, the same systems that our own banking staff use. The Bank continues to be in the forefront of electronic banking, having been the market and technology leader for over two years. Thanks to Crystal's technology, service to our clients via the Web has the same flavor as the service they receive at the branch." About eMulticonn Part of Crystal's Web enabling offering, eMulticonn, is a software tool that provides legacy systems with a generic connection to e-Commerce user interaction channels such as Internet/HTML, XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. , e-mail, and future technologies as they become available. Crystal's Web enabling products enable organizations to benefit from their past investments and well proven IT legacy systems together with emerging technologies. About The First International Bank of Israel The First International Bank of Israel is a member of the international Safra banking group. Over the past seven years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time bank achieved 9.6% average net return of equity (in real terms), and tripled its volume of credit to the public and deposits from the public--while maintaining one of the highest levels of capital adequacy in the Israeli banking industry. The Bank offers a full range of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. including current accounts, time deposits, saving schemes, commercial loans, mortgages, credit cards, financial services, brokerage services, asset management, mutual funds, provident funds Provident Fund may refer to:
1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. services. The Bank's Web site is at http://www.fibi.co.il/ About Crystal Systems Solutions Crystal Systems Solutions Ltd. (Nasdaq:CRYS) has been providing proprietary software technologies and services for Fortune 1000 companies since 1987. Crystal's solutions include e-business enabling for legacy systems, cross-platform migration, and IT mergers and consolidations. Crystal supports its customers, both directly and via its partners, offering end-to-end solutions (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. through consultancy, assistance, and service in conjunction with its wide variety of proprietary software tools. Crystal Systems Solutions is a member of the Formula Group (Nasdaq:FORTY). The Formula Group is an international information technology company principally engaged, through its subsidiaries and affiliates, in providing software consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" , developing proprietary software products, and providing computer-based solutions. Visit our Web site at http:/www.crystal-sys.com/ Certain statements contained in this release may be deemed forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , with respect to plans, projections, or future performance of the Company, the occurrence of which involves certain risks and uncertainties that could cause actual plans to differ materially from these statements. These risks and uncertainties include but are not limited to: market demand for the Company's tools, successful implementation of the Company's tools, competitive factors, the ability to manage the Company's growth, the ability to recruit and retrain re·train tr. & intr.v. re·trained, re·train·ing, re·trains To train or undergo training again. re·train additional software personnel, and the ability to develop new business lines. All names and trademarks are their owners' property. |
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