Ness Technologies Wins Israeli Ministry of Finance Contract to Establish and Operate a National Long Term Retirement Savings and Insurance Exchange

Project Valued at Tens of Millions of Dollars

Aug 14, 2012, 06:56 ET from Ness Technologies Inc

TEL AVIV, Israel, August 14, 2012 /PRNewswire/ --

Ness Technologies, a global provider of information technology solutions and services, announced today that it has been awarded a 10-year contract from Israel's Ministry of Finance to establish and operate the country's new National Long Term Savings and Insurance Exchange.

Ness will establish a dedicated subsidiary that will develop, deploy and operate the National Exchange, including a service and support center.

The new exchange will streamline work processes, facilitate consulting and marketing, and provide the public with access to information about retirement savings and insurance plans including life insurance plans, pension funds, provident funds and disability insurance plans.

The project's first phase will start in the second quarter of 2013, following which the exchange will be able to transfer funds and transmit complete, reliable information to insurance brokers and banks. In subsequent phases, individuals, as well as employers, will be able to perform a variety of activities and to obtain information through the exchange.

"Winning this significant contract is a great achievement for Ness and another example of the many large-scale systems that we develop for the financial services sector, leveraging Ness' extensive experience worldwide," said Effi Kotek, President of Ness Israel. "The contract further positions Ness as the key player in conducting strategic, large-scale national projects for the benefit of citizens and government agencies alike."

About Ness Technologies

Ness Technologies is a global provider of IT and business services and solutions with specialized expertise in software product engineering; and system integration, application development, consulting and software distribution. Ness delivers its portfolio of solutions and services using a global delivery model combining offshore, near-shore and local teams. With about 7,000 employees, Ness has operations in North America, Europe, Israel and India, has customers in over 20 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness, visit

Media Contact:
Maya Lustig
Israel: +972-3-767-5110

SOURCE Ness Technologies Inc