Yair Avidan (photo by Rami Zerniger)
The Supervisor of Banks, Yair Avidan, said today at the hearing that on other days it was very important, but in the days of political instability it became something tedious. Avidan reviewed before the committee the state of the banking system and the challenges it faces.
Naturally, the most significant challenge facing the system is the cyber challenge. Avidan has repeatedly said that the system is prepared to deal with known and known threats but always the fear is because of what we do not know. “Cyber risk is the highest and most disturbing, especially the unknown risk. Banks are investing and at the state level there is attention to this issue,” Avidan said.
More in-
“Our emphasis is on cyber issues and information security. The system sees this as a high risk. The computer systems of the banks’ operations are complex and older, compared to customer systems that are innovative and the gap is to reduce intergenerational transition. The third part is fintech development.” Said another Avidan.
The chairman of the economics committee, Michael Bitton, said he was asking the regulator to consider granting a permit to the banking system to raise the mortgage financing rate to 75%.
The Supervisor of Banks also said that the issue of connectivity between payment applications is a complex thing, and said that the issue of fees is definitely troubling. “The question is whether a regulator should intervene and whether there is a market failure. Customer dissatisfaction is definitely on the line,” he said.
Comments on the article(0):
Your response has been received and will be published subject to system policies.
Thanks.
For a new response
Your response was not sent due to a communication problem, please try again.
Return to comment