Based on Magic’s iBolt and Magic’s eDeveloper Composite Application platform, the tool will enable Bank Leumi to monitor and document all the transactions performed in the bank’s financial systems in a way that ensures future tracking and investigation by its internal control teams.
Directive 357, which was issued recently by the Bank of Israel, requires all financial organizations in Israel to document applicative transactions such as log-in, updates, queries, data deletion and addition, as well as to save the data in a central data pool that can be monitored and audited on a regular basis.
Udi Ertel, CEO of Magic Israel, said, The Leumi Group is one of our strategic customers, where we have over 60 different applications in both the headquarters and the branch levels. The new solution takes advantage of iBolt’s Business Activity Monitoring capabilities by creating an audit trail of all the transactions automatically and is based on a highly flexible infrastructure, allowing it to be scaled up to meet the needs of future systems at Bank Leumi.
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