A new bank is coming to Israel - will customers benefit?
A new digital banking venture is on its way to Israel: the international fintech giant 'Revolut' received approval to establish a bank in the country. How will this affect us? Watch.
Assessment
A new digital bank from the international fintech giant Revolut has received approval to operate in Israel. The entry of a major global player into the local banking market could increase competition and potentially lower fees for consumers. The key question is whether Revolut will offer better terms than existing Israeli banks, or simply replicate the same model with a digital interface. Watch for their fee structure and interest rates when they launch.