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Leumi Card chooses Aconite for end-to-end EMV migration
London, 19th January 2006
Leumi Card, one of Israel's leading credit card companies, today announced it has chosen Aconite to support its migration to EMV. Leumi Card's EMV deployment will benefit its own customers as well as those of Leumi Bank to whom Leumi Card provides card issuing and processing services.
Leumi Card selected Aconite in order to minimize the cost and disruption of EMV migration as well as to provide a platform to exploit EMV opportunities. The company, part of one of Israel's longest established banks, decided to retain its existing system and add Aconite's platform independent solutions to its existing infrastructure. Aconite began the EMV migration project in the summer of 2005, the first phase was completed in November 2005 and roll out is planned in the first half of 2006.
In line with Leumi Card's commitment to continually provide its customers with new and cutting edge payment solutions, the Aconite solutions will provide Leumi Card with full EMV capabilities, positioning it as the most innovative and forward thinking credit card company and issuer in Israel.
The integration of Aconite's EMV Transaction Enabler and EMV Script Processor software into Leumi Card's VisionPlus core processing system will not only enable Leumi Card to process EMV transactions but also to dynamically manage its customers' credit risk through post-issuance scripting.
Asher Reshef, Executive VP of Information Technology at Leumi Card said, "As a pioneer in Smart Cards in the Israeli market, Leumi Card was looking for a solution for EMV risk management and script processing that could be easily integrated with our host system. After evaluating several solutions, Leumi Card found that Aconite's EMV Transaction Enabler and EMV Script Processor are the most flexible and advanced solutions on the market."
"In Aconite we found a very cooperative and highly skilled team with an in-depth knowledge in all areas of EMV. They excelled in their ability to respond quickly and offer smart solutions to meet our unique requests.
The flexibility and professionalism of the team allowed us to quickly and seamlessly integrate the Aconite solutions with the existing Leumi Card system."
James Cronk, Sales and Marketing Director for Aconite said, "EMV is not just a matter of compliance. It's an opportunity for new services and improved risk management. Aconite will enable Leumi Card to leverage its EMV investments for card growth and new revenue opportunities whilst reducing fraud, delinquency and bad debt."
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