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The failure of Amnon Shashua: One Zero with only 15 thousand salary transfer customers - voila! Of money


The digital bank published today for the first time data from which it appears that it holds a deposit of only NIS 1.2 billion for customers compared to hundreds of billions of other banks. Very slow growth rate

One Zero representatives (pictured with Erez Kalfon, chairman of the league management) embrace the Premier League in soccer, but have difficulty moving up to the major league (photo: official website, management of the leagues in soccer)

ONE ZERO Bank published today for the first time a disclosure to the public for 2022. According to the disclosure, so far the bank has raised NIS 791 million according to a final value of NIS 1.39 billion.

In the last three years, in accordance with the business plan, the bank has spent about NIS 433 million, mainly for the establishment of a technological platform. The amount of deposits and current accounts as of today is a low amount of only NIS 1.2 billion. As of today, the

bank has more than 50 thousand customers, approx. 30% have already turned their account into a main account with a monthly salary transfer/a fixed monthly amount of at least NIS 5,000 every month. That is, only 15% of the bank's customers transfer their salary to the bank. This is therefore what appears to be a failure of the bank's owner, the entrepreneur Amnon Shashua.

Shuki Oren, Chairman of ONE ZERO Bank

: "Most of the digital banks that have arisen in the world were based on the principle that the costs of establishing a digital bank are significantly lower compared to old banks that have an array of branches and a complex computing infrastructure, and therefore the efficiency enables lower prices. Technological efficiency is a necessary condition for a new bank, but there is a need for a differentiating advantage that can enable competition against a banking system A profitable and strong concentration, one that will provide significant value to customers beyond the important news of cost."

  • Of money

  • our money


  • Tilapia amusement

  • Digital banking

Source: walla

All business articles on 2023-03-30

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