A New Way of Banking Launched in Israel: PEPPER by Leumi Goes Live


TEL AVIV, Israel, June 26, 2017

Pepper enables customers to manage their bank account via mobile only with no current account fees and with a personalised, unique and innovative user experience

The Leumi Group (TASE: LUMI) today announced the official launch of “Pepper“, a first of its kind digital platform in Israel – and among the first in the world – to allow customers to manage all of their banking activities entirely via mobile and with no current account fees: from on-boarding to performing common banking transactions, including ordering credit cards and cheques, transferring money, taking out loans, managing savings deposits, and more.

Pepper represents a revolution in how Millennials think about and manage their money in a digital world. It is based on a unique artificial intelligence technology that helps customers better manage their finances and make the most of their money. This cutting-edge technology allows Pepper to get to know its users, customise relevant content, and offer a personalised banking experience that differs from person to person – one that is completely different from the traditional banking language we have come to know.

Pepper’s user experience is similar to that of social media feeds, comprising of customised content which includes: Personal consumer tips and insights, real-time updates on expenses, summary and analysis of expenses on a daily/weekly/monthly basis, comparisons with peers, instant alerts upon duplicate charges, relevant news articles, live updates, and much more – all in a simple, young and friendly interface.

Pepper offers live customer service by professional bankers available around the clock (24/7) via video chat, online messaging, or by phone.

Pepper’s online on-boarding process takes only eight minutes and can be done from anywhere and at any time convenient to the customer. Following this brief process, customers will receive an update on their current account and credit facilities directly to their mobile phone. Once registered, customers can order a credit card and cheque books, free of charge.

Pepper, which is currently available to domestic customers in Israel, joins the free mobile payment app “Pepper Pay” which was released to app stores several months ago. Pepper Pay allows customers of all Israeli banks to transfer money to any beneficiary from their mobile phone contact list, in a quick and friendly manner – with no commissions.

Towards the end of 2017, Leumi will also launch the “Pepper Invest” mobile app, which will enable trading in securities.

About Leumi Group  

Bank Leumi, established in 1902, is one of the leading and largest corporations in Israel, providing comprehensive banking services and commanding an approximate 30% domestic market share. The Leumi Group operates branches throughout Israel, in addition to branches and offices located in key financial centers across the globe, including London, New York, Palo Alto and Shanghai.

In 2016, Leumi reported a net profit of NIS 2.8 billion ($728 million) and a net return on equity reaching 9.3%. As of December 31, 2016, total assets under management of the Group reached NIS 1,259 billion ($327 billion) while total assets amounted to NIS 438.6 billion ($114 billion).

Leumi is leading the way for innovation in Israeli Banking. Today, ‘Leumi Digital’ spearheads the digital banking field in Israel, with a wide range of innovative online banking services based on cutting-edge technologies. Leumi was the first financial organization in Israel, and one of few in the world, to implement cloud computing technology, in addition to establishing a designated Digital Banking Division and appointing a Chief Digital Officer (CDO). Leumi is the first Israeli bank to launch a standalone fully-mobile banking platform – ‘Pepper’. 

SOURCE The Leumi Group