Revolut is expanding its presence in Israel with a new hiring push, as the fintech giant continues efforts to secure a lean bank license in the country. The move follows its earlier approval to offer payment services and signals a broader plan to enter the local banking market.

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Hiring Supports Expansion Plans

Revolut is now recruiting a Strategy and Operations Manager to remotely support its growth in Israel. According to LinkedIn job post, the role focuses on building scalable processes, managing infrastructure projects, and improving operational efficiency.

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The hire will also work on setting project priorities, developing new product features, and managing relationships with external vendors. Revolut expects the role to support decision-making across teams and help execute key initiatives tied to its expansion.

Revolut’s hiring comes as it engages with Israeli regulators to obtain a lean bank license. The license is a limited banking framework that allows non-bank entities to accept customer deposits and provide credit services.

Focus on Lean Banking Model

The company currently operates as a full bank in Lithuania, where it holds a European Economic Area banking license supervised by the European Central Bank, and in Mexico, where it has a Multiple Banking Institution license.

It also operates as a fully licensed bank in its home turf in the UK, after regulators lifted restrictions on its UK banking licence last month. Additionally, it submitted banking applications in Peru earlier this year.

The structure of a baking license Revolut is seeking sits between a basic payment license and a full banking license. It gives fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term firms the ability to offer interest-bearing deposits and lending products while operating under lighter regulatory requirements than traditional banks.

Related: Revolut Can Now Hold Britons’ Cash and Lend It, After Securing a Full UK Bank License

Israel has opened its financial sector to more competition in recent years. Regulators granted payment licenses to several fintech firms, including Revolut, Rapyd, Mesh, and Airwallex, aiming to lower costs and increase consumer choice, according to Calcalistech. Revolut now appears to be building the local infrastructure needed to support a wider product offering.

No incentive to Switch Lenders

However, some experts maintain that Israel’s banking sector remains structurally uncompetitive. ONE ZERO CEO Eyal Gafni told media outlet Globes that customers in the region rarely switch because incumbent banks offer near-identical products and “crumb-level” deposit rates unless clients bargain.

"Until recently, there was no reason to switch or open another account. Everything is the same, the banks are pretty similar, and they just have a different color. The gap (between the interest rates on deposits) that the banks give is crumbs, very embarrassing, unless you call to bargain," Gafni commented for the publication as translated to English.

He pointed to Bank of Israel data showing Israelis hold on average just 1.1 bank accounts, noting that financially literate, higher-earning customers tend to maintain multiple relationships to gain bargaining power.

He framed ONE ZERO as a proof-of-concept for foreign neobanks, adding that international players like Revolut are unlikely to enter Israel until a local digital bank demonstrates it can meaningfully change the market, a milestone he believes is now within reach.