Amnon Shashua's banking company, known as the First Digital Bank, names itself One Zero to offer 'real, comprehensive' banking alternative

China's Tencent, Japanese conglomerate SBI, and Swiss group Julius Baer back First Digital Bank, founded by Mobileye's Amnon Shashua

Calcalist reports that Zuk and former Israeli securities regulator Shmuel Hauser will seek institutional investment for new bank and are eyeing a Bank of Israel license

Joint venture will operate on the platform of Discount's PayBox digital wallet, offering fintech services to compete with traditional lenders

The two entities will jointly issue local and international credit and debit Mastercards to customers of Israel's first purely digital bank

The approval marks the first time in 40 years a new bank will be set up in Israel; the plan is for a digital bank, without branches, that aims to compete with incumbent lenders