Governor Amir Yaron of the Bank of Israel and Supervisor of Banks Hedva Bar informed the Digital Bank's entrepreneurs Marius Nacht and Prof. Amnon Shashua that the Banking Supervision Department has completed the review process and the Governor is preparing to grant a license to the Bank and the permit to control it.
According to the business plan presented to the supervisor, they intend to establish a digital bank, free of branches, and focus on providing banking services to households, including providing credit, receiving deposits, managing current accounts, and the buying and selling of securities. Customers of the new bank will also be able to perform various payment operations, including debit card transactions, payment transfers, real-time transfers, automatic teller withdrawals and the like.