Israel’s newest bank in over 40 years, previously known as First Digital Bank (FDB), announced on Thursday that its new name will be One Zero, a moniker that brings to mind something “different, diverse, prominent” and thought-provoking, which “could not be ignored,” the company said in an announcement.
It’s a name that “reflects our mission and vision – to beat everything complex in banking,” it added.
Owned by tech entrepreneur Amnon Shashua, who also co-founded Israeli self-driving assistant tech firm Mobileye, One Zero was approved for operation by the Bank of Israel in 2019 and is currently in pilot mode.
The company is set for a soft launch in early 2022.
“We called it One Zero because we have come to win and offer a real, comprehensive, and new alternative to bank customers. We have come to triumph over lost time and availability, over the complexities and headache of managing money, over bureaucracy and everything that caused us all so much pain up until today,” the company said in its announcement.
“One Zero is also the triumph of technology speaking three languages, even before it has learned to walk — Hebrew, English, and Binary. A bank with artificial and human intelligence combined,” it added.
Last month, the FDB announced that it has raised $120 million from distinguished global investors, including Swiss wealth management group Julius Baer, Japanese financial conglomerate SBI and China-based tech firm Tencent. The company now has a valuation at $320 million according to an announcement at the time.