This survey primarily relates to developments in the banking system during 2019: actions taken by the Banking Supervision Department in recent years in order to promote competition, and in particular the granting of the first banking license in 40 years, the completion of the separation of two credit card companies from the banks, the launch of a credit data system at the Bank of Israel, support for the establishment of a computer service bureau for new banks which was led by the Ministry of Finance, and the advancement of the ‘open banking’ project; the promotion of innovation and digital transformation in banking and the payments systems; and the encouragement of efficiency in the system, and the significant progress made in these three areas. This is…
