Ramat Gan-based start-up company OpTier has announced an important contract. The company, which develops information system management tools, is supplying Deutsche Bank with an advanced system for managing business transactions. The system is being implemented in the bank's commercial and retail divisions. In the future, Deutsche Bank plans to use OpTier's technology, called CoreFirst, in its foreign exchange activity as well. Deutsche Bank accounts for 40% of the world's foreign exchange trading.
It is believed that the agreement OpTier announced today will be worth some $10 million, making it bigger than the deal with Morgan Stanley announced three weeks ago, which was estimated at $5-7 million. OpTier also recently won a contract worth some $4 million to supply transaction management systems to the tax authority of an unnamed European country.
The CoreFirst system enables Deutsche Bank to monitor in real time transactions performed by customers on its online systems, to identify and quickly solve breakdowns stemming from overload on its computer systems. It also enables the bank to implement quickly new business applications and to expand activity volume while improving levels of service and response times without replacing existing computer systems.
OpTier was chosen as "Globes" most promising start up of 2007. In that year, it had revenue of $20 million, and in 2008, $35 million
Published by Globes [online], Israel business news - www.globes.co.il - on June 22, 2009
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