Amnon Shashua Credit Mobileye
One Zero, the new Israeli digital bank established by Israeli businessman Amnon Shashua previously called The First Digital Bank, is planning to expand its operations into Europe. But as part of its preparations for the expansion the firm is cutting some jobs and making a few changes at the top.
Israel’s Calcalist reported that One Zero is set to enter into a deal with Italian bank Generali to establish a digital bank in Italy. The company’s current CEO Gal Bar Dea will step down from that role so that he can supervise the planned international expansion. One Zero’s CFO Eyal Gafni will assume the role of CEO in Israel.
However, the bank will also be letting go of as many as 40 of its employees in Israel.
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When One Zero won approval from the Bank of Israel about a year and a half ago, it was the first time in 43 years that a new bank was established in Israel. The decision was made after the bank completed the process of meeting the milestones set for it, and after the Supervisor certified the completion of the establishment process.
One Zero offers customers checking, credit cards, savings, loans, bank guarantees, cashier’s checks, ordering checkbooks, deposit by scanning checks and depositing postdated checks are all available in one app.
More and more, banking and finance are going digital, or if you prefer virtual. This is not about cryptocurrencies, but they are related to the subject. This is more about how banking is being done almost exclusively online these days and through mobile devices.
Forbes explains that online banks have emerged in the financial services space as alternatives to brick-and-mortar banks, and have introduced new ways of banking. Forbes also says that today in the U.S. three in four Americans (76%) have used their primary bank’s mobile app within the last year for daily banking tasks, according to Ipsos-Forbes Advisor U.S. Weekly Consumer Confidence Survey data from February 2021.
Amnon Shashua is an Israeli computer scientist and entrepreneur, and the co-founder and CEO of Mobileye, a company developing advanced driver assistance systems (ADAS) and autonomous vehicle solutions.
Born in Jerusalem, Israel, in 1960, Amnon Shashua received his bachelor’s degree in computer engineering from Tel Aviv University in 1985 and his master’s degree in computer engineering from the Weizmann Institute of Science in 1988. He received his doctorate in artificial intelligence and cognitive science from the Massachusetts Institute of Technology (MIT), USA, in 1993.
