Israel Discount Bank (TASE: DSCT) today announced a collaboration with online lending company Ezbob to create a new fintech company Greenlend to provide digital credits. According to the joint announcement, the new company will offer flexible and immediate solutions in the sector of consumer credit as well as small business credit. Discount Bank will hold 70% of the new company and Ezbob 30%.
Discount Bank explained that this decision is part of the implementation of the company’s strategy of promoting innovation and creating companies that will operate as independent companies and compete with the entire banking system. . In recent years, the non-bank credit market has experienced significant growth, in particular due to the open banking revolution.
The process of establishing Greenlend was led on behalf of Discount by Barak Nardi, Head of Strategy, Finance and Subsidiaries, and Shani Federman Terem, Head of Business Development and Innovation. For Ezbob, the move was led by CEO Tomer Guriel and CTO Yaron Shoshani.
Discount Bank CEO Uri Levin said, “Today we are launching another groundbreaking initiative, which is major news for the Israeli credit market and competition in the banking system. I am convinced that the strategic partnership between Ezbob and Discount will make Greenlend an important player in the financial system in Israel, while offering customers added value and an advanced experience.”
Guriel said, “We are delighted that Ezbob’s cutting-edge technology, with its experience in the world’s leading financial institutions, is also being implemented for the first time in Israel. Thanks to the breakthrough technology solution, Greenlend customers will enjoy quick verification. , with high availability when and where it is needed and in a personalized way for all types of customers.”
Published by Globes, Israel business news – en.globes.co.il – March 5, 2023.
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