The digital bank One Zero is taking another step towards entering full activity. The Bank of Israel announced today that Van Zero has completed compliance with all the milestones set for its establishment, including raising capital to the required extent. Accordingly, Governor Amir Yaron signed a permit for the Bank to remove the restrictions from the Bank’s license, and to continue its activities in accordance with its business plan.
Read more in Calcalist:
The transition from a temporary to a permanent license was made a month after the bank raised $ 120 million from international investors – the leaders of which are the Swiss bank Julius Barr, the Chinese technology giant Tencent and the Japanese financial group SBI. The investors mentioned purchased less than 5% of the bank, this is because a larger holding requires a special permit from the Bank of Israel.
One Zero, founded by Amnon Shashua, currently has about 200 employees. The Bank has signed an agreement for the issuance of credit cards with Isracard, and has joined as a stock exchange member on the stock exchange in preparation for an activity it intends to launch in the field of the capital market.
The bank is expected to start full operations in the coming weeks, after completing the pilot phase last year. According to the bank’s data, it has a waiting list of 60,000 customers who are ready to serve as first customers and intends to open an account for them gradually. The bank’s management believes that the possibility of moving quickly between one bank after another through “click banking” will transfer additional customers to the bank in the future.
Shuki Oren, chairman of One Zero, referred to receiving the license as an important milestone on the way to real competition in the field of Israeli banking. No new bank has been established in Israel for 43 years. The Bank of Israel confirms our readiness to offer a competitive, complete and safe alternative to households in Israel. ” “How values of transparency and fairness begin to seep into the market, from which the public will only benefit.”
.