The Science and Technology Committee held a quick discussion today (Tuesday), in preparation for the implementation of the new reform in the banking system. During the discussion, the new processes that will begin with the implementation of the Bank of Israel and the Ministry of Finance's new transition to a technological system that will centralize all bank account details were presented.
At the beginning of the discussion, the chairman of the committee, MK Uri Maklev, said: "Today we are discussing something very important, because we strive to achieve the expansion and improvement of technology in the private and public sectors and in service to every citizen in the country.".
""Unlike before, the banking system is an existential necessity for every citizen - every financial transfer today, even the smallest, is made only through the bank account. Therefore, we have a duty to ensure that the citizen also receives the reform in the most convenient and advanced way.".
Want more news, videos and stories? Join the Haredim 10 WhatsApp channel >>
""At the same time, in discussions like these, it is extremely important that we do not forget those who are moving slowly. The transition to a technological world does not allow us to reduce activities in a direct channel with a teller and close bank branches. We must ensure that accessibility to the bank is made possible for all populations, including those with disabilities.".
MK Menachem Eliezer Mozes, who initiated the discussion: "A large part of the third sector in Israel does not know how to use credit cards, the Haredi sector does not have access to the Internet at home - and even the phones are used only for calls. Therefore, a big question hangs over all the technological development that the Bank of Israel is marching the banks towards.".
""Already today, places in banks where it was possible to deposit cash have been closed. All technological advances can lead to additional consequences that will harm the third sector and people who do not want all the technological advances.".
Payroll Coordinator in the Budget Division at the Ministry of Finance, Kfir Batet, presented the changes that will occur after the implementation of the technological reform in the banking system, including a rapid transition between banks that will greatly increase competition.
After the reform is implemented, to each bank account that the customer transfers to, the system will automatically transfer all payment transfers, standing orders, checks, and obligations that he had in his previous account.
After the new system is established, which will allow all information from bank accounts, a system will be established that will show each customer the costs for their account at each bank and allow them to know where it is most profitable for them to conduct business.
Kfir Batet: "By exporting all the banking information, we will be able to obtain price comparisons based on a customer's needs, and that way banks will be able to compete on specific characteristics and that customer will know how to choose what is best for him. This will undoubtedly increase competitiveness and reduce costs.".
The CEO of the Center for the Blind, Nati Bialystok Cohen, asked representatives of the Ministry of Finance and the Bank of Israel that already in the preparatory phase of the reform, banks would be required to present systems that are compatible with accessibility for the disabled.
""Many times we are in the implementation phase and then we say that it is already complicated to make adjustments for the disabled. We must build a system with accessibility tools on both sides, both for the recipient of the service and for those who operate it, at the beginning of the process, so that we do not find ourselves in a situation where they say, 'We want to employ people with disabilities, but we can't because the systems don't support it' - the issue of accessibility must also be emphasized on the operational side.".
The discussion also raised concerns about the implementation of the banks' technological system and the harm to various populations.
Dudi Bavli from the Bank of Israel Banking Supervision Department said that starting this April, banks will be required to allow customer verification via phone call instead of what has been done so far only via SMS.
Tal Harel from the Banking Supervision Department added: "There is no doubt about everything that has been said here, and it is clear that there are populations for whom the transition to a technological world is very difficult. Therefore, we at the Bank of Israel are working in a variety of ways to provide digital-financial education to these populations and are investing in holding workshops and activities that will prepare them to use it optimally.".
Committee Chairman, MK Uri Maklev, announced at the end of the discussion that the committee he heads will continue to monitor the implementation of the reform, while emphasizing preserving the rights of the entire public.
""We at the committee receive countless inquiries on this subject from citizens about the barriers and difficulties that the technological world poses to them. We must maintain the right balance and, along with every piece of news about technological progress, also take care of the citizen," concluded Maklev.
