Amnon Shashua's First Digital Bank announces new name

Looking for markets around the world? Amnon Shashua’s First Digital Bank announced this afternoon that it has chosen a new name, and from today it will be known as SIZIRO ONE. The name change comes just two weeks before the bank opens its digital doors to the public.

“We called it ZERO ONE because we have come to succeed and provide a real, scalable, and innovative way for banking customers. We have won over lost time and time, in the face of financial crisis, in bureaucracy and everything. That has hurt us so much to this day,” Bar Dea said.

“ZERO one is also a technological achievement. A bank that already speaks three languages, even before learning to travel – Hebrew, English, and Binary. A bank with creative and human intelligence combined,” added Bar Dea.

First Digital Bank is the first independent bank to receive banking approval from the Bank of Israel for more than 43 years with no new bank established in Israel. The bank has developed an ingenious technology to provide families with private banks that are still available to the few who can afford it.

Last March, the bank launched a long-term initiative with the aim of launching its operations gradually to the general public. The original plan was to open the public at the end of 2021, but the launch date was postponed to early 2022, to complete the preparation, which included raising funds from exporters. The first people who will have the opportunity to open a bank account will be more than 60,000 who are already on the waiting list.

Digital First Bank, co-founder and CEO Amnon Shashua, announced two weeks ago that it had raised $ 120 million from foreign and foreign investors, led by Swiss bank Julius Baer, ​​Chinese tech giant Tencent, and a team Japan’s SBI economy. The target was $ 320 million.

The three leading sponsors are currently included with the US West Coast Equity Partners finance fund, a staff development fund at the University of Hebrew, and the Singapore fund of Far East Ventures. The bank states that it is in the process of negotiating with additional investors to be able to enter into a financial agreement, which could lead to an increase in investment. The agreement is expected to expire this January.

Published by Globes, Israel Business News – – December 30, 2021.

© Freedom of Globes Publisher Itonut (1983) Ltd., 2021.

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