Revolut's Israeli Unit Renamed Bank as It Pursues Local License
Translated & summarized from NEWSru Israel by baba
Revolut's Israeli subsidiary has been renamed Revolut Bank Israel as it seeks a banking license from the Bank of Israel. The company is actively expanding its team in Israel for roles in credit, risk, and operations. The rebranding is a key step towards entering the Israeli banking market, though the license is still pending.
The story in 5 lines · by baba
- Revolut's Israeli subsidiary is now named Revolut Bank Israel as it seeks a banking license.
- The Israeli Companies Registrar approved the name change from Revolut Payments Israel.
- Revolut has not yet received a banking license from the Bank of Israel.
- The company recently expanded its hiring in Israel for banking and risk roles.
- Ori Nathan, former head of Pepper digital bank, leads Revolut's Israeli operations.
Revolut's Israeli subsidiary has been officially renamed "Revolut Bank Israel (in process of establishment)" by the Companies Registrar at the Ministry of Justice, according to the MASAV banking clearing center. This rebranding marks a significant step for the British fintech firm as it aims to enter the Israeli banking market. However, Revolut has not yet received a banking license from the Bank of Israel, and the licensing process is ongoing.
Last month, the company expanded its workforce in Israel, hiring for key positions in credit, risk management, compliance, debt collection, and banking operations. The Israeli division of Revolut is led by Ori Nathan, who previously managed the digital bank Pepper at Bank Leumi.
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