Israel Discount Bank announced a collaboration with e-lending company ezbob to set up a new fintech company Greenlend to provide digital credit. The new company will offer flexible and immediate solutions in the consumer credit sector as well as credit for small businesses. Discount Bank will own 70% of the new company and ezbob 30%.
According to Discount Bank, the move is another part of implementing the company's strategy of promoting innovation and establishing ventures that will operate as independent companies and compete with the entire banking system. In recent years, the non-bank credit market has seen significant growth, among other things due to the revolution in open banking.
The process of establishing Greenlend was led on behalf of Discount by EVP head of Strategy, Finance and Subsidiaries Barak Nardi, and head of business development and innovation Shani Federman Terem. For Ezbob the move was led by CEO Tomer Guriel and CTO Yaron Shoshani.
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