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Shoshanna Solomon is The Times of Israel s Startups and Business reporter
Israel Discount Bank Ltd. and the nation s largest supermarket chain Shufersal are setting up a joint venture to offer a digital banking services that aims to compete with the traditional banking system (ARISA THEPBANCHORNCHAI; iStock by Getty Images)
Israel Discount Bank Ltd. and the nation’s largest supermarket chain, Shufersal, said on Wednesday they are setting up a joint venture to offer a digital financial services that aims to compete with the traditional banking system, offering customers loans, savings products, and tools for financial planning.
As part of the deal, which the two companies announced in a statement and in filings to the Tel Aviv Stock Exchange, where their shares are traded, the PayBox digital wallet of Bank Discount will become a separate company, jointly owned by the two partners.
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