One Zero

One Zero (originally named The First Digital Bank) was founded in 2019 by Amnon Shashua, who serves as the controlling shareholder, and Gal Bar Dea. Headquartered in Tel Aviv, it is Israel's first new bank to receive a full banking license from the Bank of Israel in over 40 years. It is a privately held entity that has raised capital from international investors including Tencent, SBI Holdings, and Julius Baer. The bank employs several hundred people, predominantly in Israel. Over the past 12 months, the company has navigated adjustments to its European expansion plans (initially targeting Italy via a joint venture with Generali) and implemented a targeted workforce reduction in early 2024 to optimize its cost structure.

One Zero operates exclusively as a digital retail bank, accessible entirely via a proprietary mobile application. Its technological backbone is built on the TCS BaNCS core banking system provided by Tata Consultancy Services. The bank offers standard retail banking services—checking accounts, credit cards, foreign currency exchange, loans, and deposits—but operates on a subscription pricing model rather than traditional per-action fees. Customers choose between a basic free tier and paid monthly tracks (One and One+) that waive various operational fees. The core product experience centers around a proprietary AI-driven financial assistant named Ella, which provides daily account insights and cash flow forecasting.

One Zero competes directly with Israel's established banking duopoly, Bank Hapoalim and Bank Leumi, as well as digital-only subsidiaries like Leumi's Pepper, and other emerging local digital banks such as Esh Bank. All primary operations, including research and development, customer support, and executive management, are based at the company's Tel Aviv headquarters. The company recruits heavily in the Israeli talent market, frequently hiring for mobile development, backend software engineering, data science (to fuel its AI capabilities), and financial operations.