Bank Leumi's Approach to Cyber Security and Data Management

Bank Leumi takes a multi-layered approach to cyber security, with a dedicated team that monitors and responds to potential threats 24/7.

This team is supported by state-of-the-art technology, including advanced threat detection systems that can identify and block malicious activity in real-time.

Bank Leumi's data management practices are equally robust, with a focus on protecting sensitive customer information through secure storage and encryption.

The bank's commitment to data management is evident in its adherence to strict regulatory requirements, such as the Payment Card Industry Data Security Standard (PCI DSS).

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Bank Leumi has been involved in controversy surrounding its activities in the West Bank.

In October 2017, Danish pension firm Sampension banned investment in Leumi due to its ties with companies operating in illegal Israeli settlements.

The United Nations published a database of 112 companies helping to further Israeli settlement activity in the West Bank on 12 February 2020, with Bank Leumi listed for its role in supporting settlements through services and utilities.

Norway's largest pension fund KLP announced it would divest from Bank Leumi on 5 July 2021, citing its links to Israeli settlements in the occupied West Bank.

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In October 2017, Danish pension firm Sampension banned investment in Bank Leumi alongside three other companies operating in Israeli settlements in the West Bank.

This decision was made due to the firm's involvement in activities that support the maintenance and existence of settlements in the occupied territories.

On 12 February 2020, the United Nations published a database of 112 companies helping to further Israeli settlement activity in the West Bank and occupied Golan Heights.

Bank Leumi was listed on the database for its provision of services and utilities supporting the maintenance and existence of settlements.

The UN report highlighted Bank Leumi's banking and financial operations that help develop, expand, or maintain settlements and their activities.

In response to the report, Norway's largest pension fund KLP announced on 5 July 2021 that it would divest from Bank Leumi.

This decision was made in conjunction with 15 other business entities implicated in the UN report for their links to Israeli settlements in the occupied West Bank.

Bank Leumi's journey to NiFi was accelerated by an unexpected security challenge in March 2020. The COVID-19 pandemic forced the data flow and automation team to ensure the security of data movement from 5,000-plus Bank Leumi employees working from home.

Apache NiFi was initially considered to automate the time-intensive data transfer process, but the team ultimately selected Cloudera Flow Management (CFM) after considering various options.

Bank Leumi's experience with cyber security and data management is a testament to the importance of staying ahead of the curve in a rapidly digitizing industry. The bank's Head of Data - Cyber Division, Dudi Levi, notes that the increased digitization of the banking industry requires equally advanced security systems and solutions to protect the bank and its customers.

Bank Leumi's previous logging and SIEM solution struggled to adapt to new circumstances, including a growth in semi-structured data generated within the bank's cloud platform. This led to time-consuming investigations and delayed SOC experts' work.

The bank has since moved to Elastic Security as its SIEM solution, which has broadened across the organization and now serves dozens of SOC employees and hundreds of other users. Storage in Elasticsearch also simplifies regulatory compliance and report submissions to regulators.

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Israel's leading bank, Bank Leumi, has strengthened its cyber defenses by deploying Elastic Security as its SIEM solution. This move has significantly improved the bank's ability to handle complex data and logs from multiple environments.

The bank's operations generate a tremendous amount of data that must remain secure while flowing between disparate systems. Dudi Levi, Head of Data - Cyber Division of Bank Leumi, emphasizes the importance of advanced security systems to protect the bank and its customers.

Bank Leumi's previous logging and SIEM solution struggled to adapt to new circumstances, including a growth in semi-structured data generated within the bank's cloud platform. Identifying specific logs when investigating a security event was time-consuming and often required external support.

Elasticsearch was already being used as a data lake for collecting data and logs by several teams in the bank. The bank's experience with easy data ingestion encouraged Levi to explore Elastic's security solution when they were interested in replacing the incumbent SIEM.

The use of Elastic Security has broadened across the organization since it was first deployed. It now serves dozens of SOC employees and hundreds of other users who leverage Elastic in production and development environments.

DIY data management can be a game-changer for businesses, as seen with Bank Leumi's experience. They installed NiFi on one of their servers and were immediately impressed by its stability and ease of use.

The team quickly realized that NiFi's wide range of data operations meant they could replace laborious custom coding efforts with a single, versatile tool. This saved them time and resources.

Bank Leumi's data flow and automation team struggled to build clusters where they could operationalize and configure their flows securely. But with CFM, they were able to build a cluster and manage configuration and security credentials by themselves.

CFM's intuitive graphical user interface makes it easy to build out workflows without having to write code, which is a major advantage. "With the low code capabilities of Cloudera Flow Management, there’s little to no learning curve at the beginning", said Amir Galanti.

Data transfers that previously took several days are now completed in a matter of hours with CFM. This is enabled by advanced security features that ensure data remains unaltered.

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BM Premium Industry Data is a game-changer in the world of cyber security and data management. The data shows that 75% of companies in the financial sector have been targeted by cyber attacks in the past year.

The financial sector is a prime target for cyber attacks, with a staggering 90% of attacks being carried out by nation-state actors. This is a clear indication of the high stakes involved in cyber security.

A recent study found that the average cost of a data breach in the financial sector is $5.9 million, making it a costly mistake to underestimate the importance of cyber security.

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Bank Leumi takes its IT services seriously, with publicly disclosed contracts that showcase its commitment to security and innovation.

The bank has contracts for IT outsourcing, business process outsourcing, systems integration & consulting, and more, demonstrating its focus on improving its services.

These contracts are a great way for the bank to stay competitive, and for other companies to learn from its strategies.

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Bank Leumi's experience with Elasticsearch as a data lake for collecting data and logs by several teams in the bank made it easy to implement Elastic Security.

The bank's existing expertise in Elastic made it a no-brainer to lean on when looking for a replacement for their incumbent SIEM.

Elastic Security was the best all-round security tool available, making it the clear choice for the bank.

The use of Elastic Security has broadened across the organization, serving dozens of SOC employees and hundreds of other users.

Storage in Elasticsearch simplifies regulatory compliance and report submissions to regulators, making it a game-changer for the bank's security team.

Improving competitive bidding for IT services contracts is crucial for businesses. This involves gaining insights into all publicly disclosed IT services contracts for companies like Bank Leumi le-Israel BM.

You can access IT outsourcing contracts, business process outsourcing contracts, systems integration & consulting contracts, and more. This information can be used to make informed decisions and create effective bidding strategies.

Publicly disclosed IT services contracts provide a wealth of information for businesses. This data can be used to identify trends, patterns, and opportunities in the market.

By analyzing publicly disclosed IT services contracts, businesses can improve their chances of winning contracts. This is especially true for companies like Bank Leumi le-Israel BM, which has publicly disclosed IT services contracts.

Bank Leumi achieved a 50% cost savings from reduced man hours in data management, a significant improvement that freed up resources for other areas of the bank.

The bank also experienced a 60% increase in the speed of transferring data between nodes, allowing them to process data much faster than before.

This speed boost enabled Bank Leumi to get to market 50% faster when creating new data flows, giving them a competitive edge in their industry.

By modernizing its data management, Bank Leumi was able to streamline its operations and become more agile in responding to changing market conditions.

Bank Leumi is one of the largest banks in Israel, but how does it compare to its competitors? Let's take a look at the numbers.

Bank Leumi has a significant presence in Israel, with headquarters in Lod and a large number of employees, totaling 7,862.

Here's a brief comparison of Bank Leumi with its competitors:

The numbers show that Bank Leumi is a major player in the Israeli banking industry, but its competitor, Bank Hapoalim BM, has a slightly larger workforce.

In the world of banking, understanding the competition is key to making informed decisions. Bank Leumi le-Israel BM has its headquarters in Israel, just like its competitors.

Let's take a closer look at the numbers. Bank Hapoalim BM has a larger workforce, with 8,243 employees compared to Bank Leumi le-Israel BM's 7,862.

The city of Tel Aviv-Yafo is home to two of the biggest players in the industry, Bank Hapoalim BM and The First International Bank of Israel Ltd. Both have a strong presence in the area.

Here's a breakdown of the key parameters for each bank:

By analyzing these key parameters, you can get a sense of each bank's strengths and weaknesses.

Bank Leumi has made significant commitments to its customers, including a pledge to handle each inquiry within a maximum of one business day. This is a notable effort to provide timely and responsive service.

The bank has also established the "CEO Patrol", a special team that reports directly to the CEO and works to resolve customer inquiries that haven't been handled within one day. This team is a key part of the bank's customer service strategy.

Leumi has expanded its service center hours, now operating from 6:30 to 23:00, Monday through Saturday. This extended schedule provides customers with more flexibility and convenience.

The bank's personal banking service is now available on all platforms, including phone, branch, application, and Zoom. This allows customers to choose their preferred method of communication.

Leumi's commitment to customer service has yielded positive results, with a recent report from the Bank of Israel showing that the bank's service revolution is paying off.