Cisco and Hapoalim sign fintech agreement

John Chambers & Hapoalim execs Photo: PR

John Chambers: The Memorandum of Understanding we are signing is the first step towards change in Israel's banking sector.

Cisco Systems Inc. (Nasdaq: CSCO) chairman John Chambers and Bank Hapoalim (TASE: POLI) CEO Zion Kenan today announced a strategic cooperation designed to speed up the digital revolution in Israel and signed a financial technology (fintech) agreement.

The agreement was put together by Bank Hapoalim Head of Innovation Avraham Kochva and Cisco Israel general manager Oren Sagi.

Chambers said, "Digital banking is one of the fundamental components of the program to accelerate digitalization in Israel. I am happy to cooperate with Bank Hapoalim on the future of the banking industry. The Memorandum of Understanding that we are signing today is the first step towards change in this sector in Israel. We believe that the way in which Bank Hapoalim and its senior managers perceive the changes in the market, will allow the bank to continue to lead."

Bank Hapoalim chairman Yair Seroussi said, "I welcome this cooperation with Cisco. The digital revolution combined with globalization proceedings is bringing the world closer together, faster and more accessible and Bank Hapoalim is integrating with this and leading measures that will help provide its customers with better and more efficient services. I'm proud to cooperate with a leading world company and believe it will help promote services to customers and the level of financial technology in Israel."

Published by Globes [online], Israel business news - www.globes-online.com - on June 27, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

John Chambers & Hapoalim execs Photo: PR
John Chambers & Hapoalim execs Photo: PR
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