Israel’s First Digital Bank Gets Green Light to Start Operations

Published January 10th, 2022 - 10:25 GMT
Israel’s First Digital Bank Gets Green Light to Start Operations
The country’s first digital bank is controlled by Amnon Shashua. (Shutterstock)

Israel’s first digital bank, One Zero Digital Bank Ltd., has received the green light to commence operations after raising sufficient capital and passing the required regulatory checks, the Bank of Israel announced on Monday. 

“After 43 years, a new bank is being established in Israel, and this is further good news for competition and innovation in the banking and financial industry,” Bank of Israel Governor Amir Yaron said, according to the statement. 

The country’s first neobank is controlled by Amnon Shashua, the co-founder of Intel Corp.’s Israel-based autonomous vehicle unit, Mobileye NV. It will be managed by former Finance Ministry accountant-general Shuki Oren and Gal Bar Deah, who was vice president of products and services at Pepper, Bank Leumi Le-Israel Ltd.’s digital unit. 


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