In a new Israeli television sitcom, "Honey spot-on in the middle," an actress playing a Knesset member presents a bill that would require every bank customer to take a financial management course to know how to manage their money. The first digital bank established in Israel seeks to make this need redundant by thinking for its customers and managing their accounts by means of artificial intelligence.

The founder of the digital bank is the billionaire Marius Nacht, who made his fortune in shares and stock options that he holds in the Israeli technology giant Check Point. Later, Nacht took as his partner professor Amnon Shashua, of the Hebrew University, who is one of the founders of the autonomous vehicle company Mobileye, which developed a safety camera for cars, and was sold to Intel for more than $15 billion. 

In 2019, the Bank of Israel granted the digital bank a banking license. In May 2020, Nacht surprised the market and announced that he will leave the bank, and all his commitments and holdings were transferred to Shashua, who had invested $60 million in the bank until then. Today, the bank employs 140 people. 

The First Digital Bank is regulated by the Bank of Israel just like all other banks, and will offer all the services offered by traditional banks. It will offer the banking services that exist today in the banking system, including an individual banking account, loans, certificates of deposit, credit cards, securities, guarantees, standing orders and foreign currency. In the future it will also be possible to take out a mortgage from the digital bank, for which it will need a separate license.