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Israel’s first digital bank now rolling

Israel’s first digital bank wants to create a revolution in the banking sectors, much like Spotify revolutionized the music industry and Tesla the vehicle market.
A trader looks at his monitors as he works in a dealing room in Tel Aviv on October 12, 2008 in Tel Aviv, Israel.

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. 

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