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One Zero Digital Bank gains full banking licence

Tuesday 11 January 2022 10:02 CET | News

Israel-based One Zero Digital Bank has received final regulatory approval for a full banking licence.

Having gained a restricted licence in December 2019, One Zero operated on a trial basis initially but has now met all criteria, including raising the necessary capital.

One Zero's status is now the same as all the other banks in Israel, supervised by the Bank of Israel’s Banking Supervision Department to ensure its stability and to protect the money of its depositors.

One Zero is an independent bank that hopes to compete with the nation’s five largest banking groups, which hold some 98% of the market. It is the first to receive a banking licence in Israel in over 43 years.


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Keywords: digital banking, banks, banking license, regulation, challenger bank
Categories: Banking & Fintech
Companies:
Countries: Israel
This article is part of category

Banking & Fintech