Israel’s Bank Leumi has launched a digital banking platform known as Pepper that will allow customers to manage banking activities through mobile without having to pay any account fees.
Pepper will support a range of functionalities such as ordering credit cards and cheques, making fund transfers and taking loans, as well as managing savings deposits.
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The platform will leverage artificial intelligence to offer customers personalised insights, real-time expense updates, daily/weekly/monthly analysis of expenses, comparisons with peers, instant alerts upon duplicate charges, news articles, among other services.
The online on-boarding process through Pepper takes eight minutes and can be done round the clock from any place, Leumi said.
At the same time, Leumi is also gearing up to introduce a mobile app, dubbed Pepper Invest, which will facilitate securities trading. The app is expected to be launched in the end of this year.
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