The Bank of Israel inaugurates new Open Finance infrastructure

The Bank of Israel and the Government ICT Authority in the National Digital Ministry have launched an infrastructure which will be at the center of the open financial system in Israel.

The infrastructure will allow a third-party provider to receive personal financial information of a customer from a source of information with the purpose of providing customer services based on this information and providing access to personal payment accounts.

In the Bank of Israel’s estimation, it will be possible to start issuing digital certificates that serve as identification for the financial body as early as April 2021, when an available government unit is prepared to begin issuances with the Bank of Israel.