UXBRIDGE, England, August 11, 2015 /PRNewswire/ --
Leading South African financial
institution seeks to introduce new products quickly
and expand to other countries
Sapiens International Corporation, (NASDAQ and TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, with an emerging focus on the broader financial services
sector, announced today that FNB - a financial institution
providing personal, private, business and commercial banking
services to millions of customers across South Africa and Africa - has selected Sapiens ALIS for
the launch of its new life insurance company.
(Logo:
http://photos.prnewswire.com/prnh/20120508/531104 )
FNB recently secured a license to launch a new life insurance
company, prompting the financial institution to find and implement
a new policy administration system. After evaluating available
solutions, FNB concluded that Sapiens ALIS, a core solution suite
that supports the complete policy lifecycle across a wide variety
of products, together with Sapiens' proven delivery proposition,
would help the bank realize its goals of obtaining the agility to
introduce new products to market quickly.
"After a comprehensive evaluation and selection process that
included full-cycle proof of concept, FNB chose Sapiens ALIS in
order to achieve our vision of becoming South Africa's leading financial services
institution by 2025," said Lee
Bromfield, chief executive officer at FNB Life. "Because
we've set an ambitious implementation deadline for the end of the
year, it was important for us to select a partner with an
established delivery record and industry expertise to help us
achieve our objectives."
"We are pleased for the opportunity to expand our footprint in
South Africa - a region where we
have been doing business for over two decades," said Raj Ghuman,
regional vice president of sales at Sapiens. "We warmly welcome FNB
to the Sapiens family and we are highly motivated to ensure that
FNB successfully launches its new life insurance product
portfolio."
Sapiens ALIS supports any combination of life, pension, annuity
and medical products for the individual and group markets, enabling
carriers to explore new product offerings and hybrid designs.
About FNB
As a financial institution, FNB provides personal, private,
business and commercial banking services to millions of customers
across South Africa and
Africa. FNB is the oldest bank in
South Africa and can be traced
back to the Eastern Province Bank formed in Grahamstown in 1838.
Today, FNB trades as a division of FirstRand Bank Limited. For more
information please visit: http://www.fnb.co.za
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a
leading global provider of software solutions for the insurance
industry, with an emerging focus on the broader financial services
sector. Sapiens offers core, end-to-end solutions to the global
general insurance, property and casualty, life, pension and
annuities, reinsurance and retirement markets, as well as business
decision management software. The company has a track record of
over 30 years in delivering superior software solutions to more
than 170 financial services organizations. The Sapiens team of over
1,500 professionals operates through our fully-owned subsidiaries
in North America, the United Kingdom, EMEA and Asia Pacific. For more information:
http://www.sapiens.com.
Investor and Media Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Corporate Communications
Sapiens International
Mobile: +1-201-250-9414
Email: Yaffa.cohen-ifrah@sapiens.com