Bank Leumi is gearing up to launch its stand-alone digital-only bank Pepper in the first quarter offering current and savings accounts, lending products and a P2P payments app, all targeted at Israel’s millennials.

Customers will be able to manage their banking via smartphones with all basic banking transactions free of charge.

It will only charge for “exceptional” items which it defines as “special activities and services that you most likely won’t use very often.

The aim is to disrupt Israeli banking. Leumi worked with Denmark-based Designit to develop its products and customer service experience.

Leumi also partnered with Israeli digital authoring software vendor Playbuzz to provide personalised, interactive content including polls and quizzes for its banking app.

The launch of Pepper and an interview with CEO Lilach Bar-David features in the March issue of Retail Banker International.

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