Rakefet Russak-Aminoach, President & CEO of Leumi: 'VIDEA is yet another milestone in the technological revolution led by Leumi. Through VIDEA, we are now making the investment management world - which up until now has been open to a relatively limited audience - accessible to the general public, enabling customers of all banks to receive a digital, innovative, smart and inexpensive service'

October 08, 2018

Bank Leumi announced today the launch of VIDEA, a new portfolio management company, a first-of-its kind in Israeli banking, which is expected to revoulitinize the investment management field. VIDEA offers portfolio management for customers of all Israeli banks, utilizing an advanced and innovative digital platform which is based on a Nobel Prize winning model and while offering management fees at the low-end of the market.

A service that was most recently the exclusive domain of customers with a minimal capital of half a million NIS will now be available to a much broader audience - with a minimum capital of 50,000 NIS - that requires professional guidance and smart investment management.

VIDEA is a new wholly-owned subsidiary of Bank Leumi and has a portfolio management license. The company is headed by Paul Klein, former Head of the Investments Department at Leumi, who brings more than 20 years of experience in investments and capital markets.

VIDEA's investment management is carried out by an advanced online digital platform, which builds each customer a tailor-made portfolio according to various characteristics, mainly risk preferences, investment objectives, the investment period and more. Following the customization of the portfolio to the client's needs, VIDEA will manage it on an ongoing basis, continuously monitoring and screening changes and trends in the capital market, while balancing and updating the portfolio regularly, 24/7, according to the market situation.

Opening an account at VIDEA is easy and user-friendly, taking approximately 15 minutes. It is carried out through VIDEA's website (www.videa.co.il) or mobile app.

Within the on-boarding process, the customer is requested to answer eight short questions that will enable the system to characterize hisfinancial needs and customize an investment portfolio on the spot. VIDEA provides complete and up-to-date information on the portfolio, at any given time.

VIDEA manages the investment portfolio so that the customer is not required to transfer money to VIDEA. The funds, which can be realized at any time, will remain at the customer's original bank.

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Bank Leumi le-Israel BM published this content on 08 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 08 October 2018 13:57:01 UTC