Bank Leumi USA is a subsidiary of Bank Leumi le-Israel, one of the largest banks in Israel. As part of its reengineering efforts to streamline back office operations, Bank Leumi USA selected Brokerage Processing Services (BPS), ADP's back office processing system, to handle its securities processing. The BPS platform is a flexible, real-time processing system for equities, options, and mutual funds, complete with automated inquiry, reporting and record keeping services.
In addition to using the BPS platform for transaction processing, Bank Leumi USA chose ADP's PostEdge(r) suite to distribute confirmations, statements, tax documents, and other investor communications electronically. The system allows for complete electronic archival and retrieval of investor related documents. In addition to providing Bank Leumi USA with an electronic delivery solution, ADP will provide a standard mail option for customers who prefer to receive paper copies of their shareholder communications.
Jose Paulucci, executive vice president, Bank Leumi USA said, "We selected ADP because of its comprehensive product suite, price/performance mix and most importantly, its industry knowledge. ADP's product specialists assisted us in a complete overhaul of our back-office. Their industry expertise and customized solutions will enable us to streamline our operations and achieve greater efficiencies."
"In order to exceed your client's expectations you need to think like the client. Our highly-trained staff was able to assess Bank Leumi USA's operations and offer them optimal back-office solutions. We knew how to get them from where they were to where they wanted to be," said Charles Marchesani, General Manager, Brokerage Processing Services. "We are excited that Bank Leumi USA has chosen us to be their vendor partner and we look forward to providing them with an end-to-end solution that will further their business growth."