Oct 23, 2024

Jewish Business News One Zero Bank Secures $100M Investment, Valuation Reaches $450M for Israeli Digital Banking Leader One Zero offers customers checking, credit cards, savings, loans, bank guarantees, cashier’s checks and depositing postdated checks are all available in one app. By Amnon Shashua Credit Mobileye One Zero, previously called The First Digital Bank, was established by Israeli businessman  Amnon Shashua. It is Israel’s first digital bank. US-headquartered One Zero is gearing up for another fundraising round. Soon, representatives of the digital bank will meet with shareholders to raise $100 million. The valuation for this round will be determined during meetings with shareholders likely to contribute. Reports suggest the bank is eyeing a valuation between $400 million and $450 million. The bank was previously valued at $320 million in 2022. It has raised $240 million to date. One Zero offers customers checking, credit cards, savings, loans, bank guarantees, cashier’s checks, ordering checkbooks, deposit by scanning checks and depositing postdated checks are all available in one app. Please help us out : Will you offer us a hand? Every gift, regardless of size, fuels our future. Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone. Thank you. More and more, banking and finance are going digital, or if you prefer virtual. This is not about cryptocurrencies, but they are related to the subject. This is more about how banking is being done almost exclusively online these days and through mobile devices. Forbes explains that online banks have emerged in the financial services space as alternatives to brick-and-mortar banks, and have introduced new ways of banking. Forbes also says that today in the U.S. three in four Americans (76%) have used their primary bank’s mobile app within the last year for daily banking tasks, according to Ipsos-Forbes Advisor U.S. Weekly Consumer Confidence Survey data from February 2021. Amnon Shashua is an Israeli computer scientist and entrepreneur, and the co-founder and CEO of Mobileye, a company developing advanced driver assistance systems (ADAS) and autonomous vehicle solutions. Born in Jerusalem, Israel, in 1960, Amnon Shashua received his bachelor’s degree in computer engineering from Tel Aviv University in 1985 and his master’s degree in computer engineering from the Weizmann Institute of Science in 1988. He received his doctorate in artificial intelligence and cognitive science from the Massachusetts Institute of Technology (MIT), USA, in 1993. In this article: headline