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Israel’s First Digital Bank Clears Final Regulatory Hurdle

The One Zero Digital Bank website.

The One Zero Digital Bank website.

Source: One Zero Digital Bank Ltd.

Israel’s first digital bank, One Zero Digital Bank Ltd., has received final approval to begin operations after raising sufficient capital and passing the necessary regulatory checks, the Bank of Israel announced on Monday. 

The country’s first new bank in 43 years is controlled by Amnon Shashua, the co-founder of Mobileye NV, Intel Corp.’s Israel-based autonomous vehicle unit. 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.