Israel’s Bank Leumi Launches No-Fee Mobile Account

The Leumi Group has launched a new digital platform, named Pepper, that allows customers to manage all of their banking activities entirely via mobile and with no account fees: from on-boarding to performing common banking transactions, including ordering credit cards and checks, transferring money, taking out loans, managing savings deposits, and more.
Pepper is based on artificial intelligence technology that helps customers better manage their finances and make the most of their money. The technology allows Pepper to get to know its users, customize relevant content, and offer a personalized banking experience that differs from person to person.
Its user experience provides customized content that 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 for duplicate charges, relevant news articles and live updates all in a simple, friendly interface. The app also offers live customer service by professional bankers available around the clock (24/7) via video chat, online messaging, or 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 account and credit facilities directly to their mobile phone. Once registered, customers can order a credit card and check books free of charge.
Pepper is currently available to domestic customers in Israel. It 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 fees.
Towards the end of 2017, Leumi will also launch the “Pepper Invest” mobile app, which will enable trading in securities.

About Tom Groenfeldt

I write - mostly about finance and technology, sometimes about art, occasionally about politics and the intersection of politics and economics. My work appears on Forbes.com and International Finance Magazine. The Financial Brand ranked me 20 on a list of the top 25 global influencers in financial services and Jay Palter included me in his list of 250 fintech influencers to follow in 2016 http://bit.ly/1SSRXC6
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