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Largest Bank in Israel Digitizing Financial Assets

Largest Bank in Israel Digitizing Financial Assets

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According to times of Israel, Bank Hapoalim, Israel’s largest bank by assets, is looking to digitize their paper-based processes. The bank is aiming to secure documents in an automated and digital manner so that clients have an instant access to them without physically going to different branches of the bank.

According to times of Israel, Bank Hapoalim, Israel’s largest bank by assets, is looking to digitize their paper-based processes. The bank is aiming to secure documents in an automated and digital manner so that clients have an instant access to them without physically going to different branches of the bank. Arik Pinto, Bank of Hapoalim’s CEO believes that technology can improve and make the process easier for their clients. He has shown interest in using Blockchain technology for in order to implement this digitization campaign. Achieving this feature, which will bring in a major breakthrough.

The bank has partnered with Azure, Microsoft’s cloud computing service which is possibly the largest in its sector. As a very well known fact Microsoft’s Azure is the largest cloud computing service and is also a leading hub in Blockchain development. Taking the first step in its digitizing digitization process, the bank has sought partnership with from Microsoft. The aim of digitizing digitization is for better customer experience and to gain public’s trust. The initial step as agreed upon by the two parties is to enable Bank Hapoalim's digitization of processes. The tech giant will set the bank up with advance Blockchain services. Azure will give the bank an integrated approach to Blockchain through a blend of tech & business processes. innovation and business forms. The CEO for Microsoft Israel, Shelly Landsmann, seemed delighted about the partnership. displayed the development and expressed delight about the association of two.

Why Blockchain?

Blockchain is a public ledger and its biggest feature is it’s transparency. Governments and companies around the globe are experimenting with the technology in order to curb corruption, improve efficiencies and increase accountability. feature promises reduced corruption and inefficiency and promotes accountability. Blockchain transactions have also proven to be faster than wired transactions. All these features have prompted many companies to experiment with this revolutionizing technology.

 

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