Israel Discount Bank of New York has opted for SEI's wealth management platform as the New York State-chartered commercial bank looks to expand its business.

IDB Bank will convert its international custody division to the platform, SEI said in a statement.

SEI's Wealth Platform will provide IDB Bank with a single-infrastructure solution, integrating wealth processing and wealth management. SEI said the platform supports trading and transactions on 104 stock exchanges in 45 countries and 33 currencies.

“We are very happy to announce our strategic partnership with SEI. The combination of multi-currency technology and operational support offered on the SEI Wealth Platform will allow us to improve service to our clients and gather more assets while increasing efficiency in our operations," said Robert Plante, chief operating officer and chief investment officer of IDB Bank. 

IDB Bank provides domestic and international, personal and commercial banking services to its US and foreign clientele through its main office in Manhattan and private banking offices in Staten Island, NY, Brooklyn NY and Short Hills, NJ. Other locations include Beverly Hills and Downtown Los Angeles, California and Aventura, Florida.