Nir Zuk's new Israeli digital bank Esh has appointed computer scientist Kira Radinsky to its board of directors. She will head the eshX tech laboratory. The bank, which has already been granted a license to operate, said that the laboratory that Radinsky will lead will be engaged in applying future technologies for banks, which will be integrated into the activities of the group's tech companies and daily operations of the bank itself. This integration, the bank added, will allow more efficient services and lower costs for customers.
The new bank has already begun hiring tech professionals these days. Alongside Radinsky as the bank's technology director will be former unit 8200 commander Col. (res.) Moshe Wolf, and cofounder and CTO Alex Liverant.
Radinsky is a former chief scientist at eBay and prior to that led the establishment of big data systems for Microsoft. She is currently CEO of Diagnostic Robotics, a leading company in healthcare AI.
Radinsky will sit on the board chaired by Prof. Shmuel Hauser, the former chairman of the Securities Authority and Dr. Nadine Bodo-Trachtenberg, former deputy governor of the Bank of Israel. Esh Bank'sa CEO is Kobi Malkin, former CEO of Bank Otsar Hahayal.
Radinsky said, "The opportunity to bring transparency and fairness to the world of banking opens a new playing field and the challenge before us is harnessing the technology for this purpose. This is an important task that will serve all households in Israel.
Esh received a banking license at the end of 2022 and is currently in the midst of starting operations. One of the investors in the new bank is Clal Insurance, which is expected to invest NIS 100 million for a 4.99% stake. Completion of the deal would give Esh a valuation of NIS 1.8 billion.
Esh plans to offer retail banking and current accounts including deposit accounts, credit, payment clearance and credit cards to private customers, the self-employed and corporations.
Published by Globes, Israel business news - en.globes.co.il - on April 17, 2023.
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