British fintech giant Revolut is looking to expand its presence in Israel and is in talks with the Bank of Israel to acquire a “lean bank” licence in the country, local media outlet Calcalist reported. A “lean bank” licence is a limited banking licence that allows non-bank entities to receive deposits and provide credit.
Revolut entered Israel in 2023 and received an identification code from the Bank of Israel. Now, the platform can onboard clients, offering them a current account and money transfer facilities within local banks. If it is approved as a “lean bank”, it can offer deposits with interest, just like a traditional bank, and also provide credit.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
