Blender CEO discusses future of banking and fintech at Maariv Summit

Blender is working with 450 car dealers in Israel and another 150 dealers in Europe with its Blender Car service that enables purchasers to receive loans for used cars immediately.

 Blender head discusses future of banking and fintech at Maariv Summit. (photo credit: MARC ISRAEL SELLEM)
Blender head discusses future of banking and fintech at Maariv Summit.
(photo credit: MARC ISRAEL SELLEM)

In a one-on-one interview with Yehuda Sharoni at the Maariv Business Summit, Dr. Gal Aviv, co-founder, and CEO of Blender, discussed the future of banking, financial trends, and the increased roles of fintech companies.

Blender was established according to successful peer-to-peer lending models that have proven themselves and have managed to significantly reduce the interest-rate differentials between lenders and borrowers. Today, Blender enables clients to invest, take out loans and pay bills affordably and efficiently.

Aviv said that Blender clients receive an average of 4% annual savings.

“If we are talking about new banking, it is the gap between fintech companies that have a great deal of technology and traditional entities that rely on manpower and less technology. The big advantage of Blender is our ability to move forward with the market. Today, Blender is already deployed in 1,200 businesses in Israel,” said Aviv.

Blender is working with 450 car dealers in Israel and another 150 dealers in Europe with its Blender Car service that enables purchasers to receive loans for used cars immediately. It has also partnered with Bank Hapoalim in a significant e-commerce partnership.

There has recently been a surge in online purchases of larger, luxury items such as cars, kitchens and even homes during the coronavirus pandemic (credit: REUTERS/MIKE BLAKE)There has recently been a surge in online purchases of larger, luxury items such as cars, kitchens and even homes during the coronavirus pandemic (credit: REUTERS/MIKE BLAKE)

In response to Sharoni’s question about establishing a digital bank in Israel, Aviv answered that receiving a banking license in Israel is relatively complex, unlike in Europe.

“This is one of the reasons we cooperated with a bank and did not apply for a banking license for ourselves,” he said.

This article was written in cooperation with Blender.