Banking in Israel has in recent years become as digitally advanced as is possible within existing regulatory and technological constraints: check scanning, advanced apps, and first steps towards a digital wallet.
Sources inform "Globes" that Bank Hapoalim, one of the two big banks in Israel that are leading the digital revolution in the old-fashioned world of financial services, is currently examining the option of using mobile apps Snapchat and Telegram to send updates to customers on account activity, account balances, incoming salary, checkbook order status, and more.
The bank is seeking new ways to update customers, and it is not surprising that it is considering using these two specific apps. Snapchat offers the option of sending messages that self-destruct after just a few seconds. It is thus possible to send messages with sensitive bank data, but which will disappear with no fear of exposing the information. Telegram, which is a WhatsApp competitor, places an emphasis on security and privacy. It’s possible to have secret conversations, which are deleted after pre-determined periods of time, and to hold secret conversations that cannot be captured by screenshots.
The bank has not yet decided whether it will adopt one of the apps, and has posted a short survey for its customers online in order to get a sense of how well known and how relevant to the bank's customers the apps are. When logging out of their accounts, Bank Hapoalim online customers were asked if they had heard of one of the apps, whether they use them, and whether they would be interested in receiving messages from the bank via one of the apps. The survey results were not publicized on the site, and are being used internally by the bank to determine whether or not to begin offering the service.
Bank Hapoalim said, "The bank continually examines the possibility of expanding its services on all the digital platforms that are relevant to its customers."
Published by Globes [online], Israel business news - www.globes-online.com - on April 13, 2015