In a world where mega-deals are signed digitally and billions of dollars are transferred instantly between institutions, countries, and individuals, banks remain essential to the modern economy. In Israel, they are a key part of the country's remarkable development. This is supported by both facts and evidence. While much of the Western world has moved away from direct customer engagement, relying almost solely on digital platforms, Israel still has institutions like Mizrahi-Tefahot Bank that prioritize and actively invest in personal service. This includes physical branches staffed by multilingual professionals, including immigrants; a human-centered approach to customer relationships; and direct communication to understand diverse societal needs and assist clients with complex regulatory processes.
In an era in which technology and digitalization dominate the service landscape, this may not seem obvious at first glance. Yet the true added value of banking lies in people. At its core, a bank consists of capital, technology, and human capital. Capital and technology are widely available, and it is difficult to differentiate on such similar foundations. People and branches that provide real service are becoming increasingly rare in today’s landscape, with the notable exception of institutions like Mizrahi-Tefahot. This distinction is particularly meaningful for new immigrants or foreign-language speakers seeking to invest or conduct business in Israel. Why? Because there are substantive differences between Israeli banking and what many are accustomed to abroad. An investor seeking to purchase shekels, buy property, obtain a mortgage or credit, or save and invest through various channels requires an Israeli bank that understands their needs, speaks their language, relates to their cultural background, and provides professional and responsible guidance toward clearly defined financial goals.
The global banking system has experienced significant upheaval in recent years, with several major brands disappearing altogether. In Israel, however, the regulatory framework overseen by the Bank of Israel has positioned local banks on firm and stable ground. In international professional rankings, Israel’s economy and financial stability consistently score highly. The regulator plays a significant role in safeguarding that standing, while ensuring both customer protection and the strength of the banking system. A closer look at the differences between Israeli and foreign banking reveals several notable advantages. Israeli banks allow customers to hold multiple foreign currencies within a single account and to manage a broad range of financial products – including savings, deposits, loans, and mortgages – under one roof. This structure grants clients considerable flexibility and streamlines complex processes. It also enables individuals and businesses operating from Israel to operate internationally in diverse and efficient ways. We believe a bank is only as good as the person sitting opposite you. That is why our differentiation at Mizrahi-Tefahot lies in our people.
Written in collaboration with Mizrahi Tefahot