Bank Leumi to bring mobile-only Pepper to the US

Bank Leumi to bring mobile-only Pepper to the US

Israel's Bank Leumi is talking to potential partners about bringing Pepper, its standalone mobile unit, to the US.

Launched just over a year ago, Pepper is an AI-heavy mobile bank modelled on consumer use of social media feeds.

Keen to bring Pepper to other markets, Leumi has now settled on America, ahead of the UK, and India as its first destination.

Leumi CEO Rakefet Russak-Aminoach told the Financial Times that talks are taking place with several potential partners that have large US customer bases.

The States is an attractive option in part because "in some aspects they're so behind in basic banking," Russak-Aminoach told the FT.

Goldman Sachs has already proved that there is an appetite for a digital-only provider with its Marcus platform, which has been a runaway success since launching in 2016.

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