February 3, 2020 / 7:07 AM / 22 days ago

Israel's OpenLegacy gets $20 mln investment from Japan's SBI

JERUSALEM, Feb 3 (Reuters) - Israel’s OpenLegacy, whose software helps companies create digital services from older systems, said on Monday it received a $20 million strategic investment from Japanese financial services company SBI Holdings .

That follows a $30 million funding round in November 2018.

OpenLegacy automates the process of creating digital services. Legacy systems can be integrated, leveraged, and extended quickly without changing the underlying systems.

It is a flagship company of The Floor, a global innovation platform, in partnership with leading banks such as HSBC, Santander, RBS, Intesa SanPaolo, Deutsche Bank, and SMBC alongside Intel and Accenture.

SBI made the investment to help it develop internet banking for Japanese banks and to institute a blockchain-based payment application in Japan and globally, OpenLegacy said. (Reporting by Steven Scheer; Editing by Tova Cohen)

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