This Isn’t “Digital Banking”, But Banking In A Digital World

By Zion Kenan-CEO Of Bank Hapoalim
Globes, Tel Aviv, Israel.

Bank Hapoalim has taken upon itself to lead, promote, and encourage innovation in the Israeli economy in general and in the banking system in particular.

Israel is justifiably known as the Start-up Nation and the number of start-ups in the country is the highest in the world, per capita. In 2015, exits by Israeli start-ups totaled $7 billion; we have great and impressive achievements, and we can be proud of them, but we must not be satisfied with them.

The contemporary world is progressing and changing at its fastest pace in human history. This race is hard and demanding, but anyone who does not adjust to the pace will lag behind and even fall off the map. Israel must not lag in this race. We have the tools, the people, and the technology and business culture, which if we foster then, can guarantee that we will always be at the forefront of global technological progress.

I am pleased and proud that Bank Hapoalim is leading and promoting the integration of technological progress and the business sector. This is a revolution for us — conceptually, culturally, and business-wise. In recent years, Bank Hapoalim has known how to maintain its status as Israel banking leader and successfully deal with the pace dictated by the digital age and rising competition. But, from day to day, the pace of change has accelerated, with the result that we must be faster, more efficient, and sharper.

Our customers demand more from us. They demand high-quality, personalized, and more accessible service; they demand a new banking experience.

Digital banking apps are now being taken for granted. Naturally, we are still providing our technology customers the most professional banking experience, but that is not enough for us. We are instilling the concept that managers should have technology dialogue skills, know the language of technology, and spot initiatives with the potential to promote their organization. Technology must be a part of us; this isn’t “digital banking”, but banking in a digital world.

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