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Oded Salomy 🎗️

Director of Payment & settlement Systems Department and a Member of Management at the בנק ישראל Bank of Israel

Oded Salomy is a prominent figure in Israel's financial sector, serving as the Head of the Payment and Settlement Systems Department and a Member of Management at the Bank of Israel (בנק ישראל), Israel's central bank.34 His LinkedIn profile is under the username odedsalomy.6 He has been in this role for nearly four years and is set to complete his term in May 2025.4

As Director of Payment Systems, Oded Salomy plays a crucial role in shaping Israel's payment landscape, including discussions on digital currencies and fintech innovations.1 He has also commented on significant market developments, such as the entry of Revolut into the Israeli market.2

Oded Salomy is active on LinkedIn, where he shares insights into the financial and payment systems sector, highlighting trends and developments in Israel and beyond.25 His professional network includes over 500 connections on LinkedIn.6

Highlights

Aug 22 · linkedin

At the בנק ישראל Bank of Israel, two days ago we issued a "code identifier", formerly known as a "bank code", to a global Fintech, Revolut.

Our press release in English: https://lnkd.in/drBZrmwf

In Hebrew: https://lnkd.in/d9KpVt5e

A "code identifier" sounds technical, but it's so much more. It's similar to a license plate number for a vehicle. If the vehicle has no license plate number, it can't use the transportation system – roads, ports, airports, etc. In the US these are known as routing numbers, in the UK they are sort codes, and so on. Financial institutions (#FIs) use these codes to identify other financial institutions as they participate in a domestic financial market infrastructure (#FMI), or in a multi-party payment system. In some countries these codes are issued only or mainly to banks, and in some countries they are also issued to non-bank entities that meet defined requirements. In Israel our team recently has begun issuing these codes to qualified non-banks.

Issuing a code to a new market entrant is a significant milestone. It doesn’t yet mean that the entity has connected to our domestic financial market infrastructures (#FMIs) or payment systems. But it does mean that all the other participants who have become participants in our FMIs over the years, need to implement the new code in their own systems, and thus ready the technology in our eco system to begin accepting and sending payment transactions to, in this case, Revolut.

We expect that companies like Revolut which are leveraging our reforms and achieving milestones such as receiving a code identifier from the בנק ישראל Bank of Israel, will soon begin moving the Israel market, by introducing new digital value offerings that increase competition and meet market needs.

Thank you to all who contributed to this journey thus far: Noa Sheshinski Lavi, Alona Levi, Yael Lilienthal, Eylam Liss, Adam Gagen, Noa Luthi, Maya Orlicky.

Aug 20 · linkedin

As an additional step to open the Israel payments market to new entrants, yesterday we announced that three non-bank players have connected and began operating in our domestic financial market infrastructures (#FMIs):

 • grow by Meshulam  • Global Remit Israel.  • אופק אגודת אשראי | Ofek Credit Union

Thank you to the multiple teams at the בנק ישראל Bank of Israel, Bank Clearing Center Ltd. (MASAV) and SHVA - The payments arena, and at the new players, who worked tirelessly for months to make this happen. 

Stay tuned as additional players begin operating directly in our domestic #FMIs.

Eitan Lev-Tov, Odelia Moshe Ostrovsky, Adina Geffen, Ronit Tischler Pity, Eitan Vardi, Hagay Alteresco, Oren Aley Raz, Nimrod Geva, Haim Yablonka, Yehuda Talmon, Tom Dromi, Tal Tubi, Limor Grobglas, Noa Sheshinski Lavi, Yael Rashti, Yael Lilienthal, Alona Levi, Eylam Liss, Mor Davidian, Yulia Portnov Missel, Liza Lyubavsky ליזה לובאווסקי, Ruth Eilon, Noa levin, Elad Yaakobi, Shirley Avner, Elitzur Weiser, Amit Yuval Korenblum, Lior Georgi, Gil Polak, Miri Ben Yakar, Estée Adler, Aviya Holander, Guy Itzchaki, Eyal Weisman.

Our press release in Hebrew: https://lnkd.in/dJWHTikC

And in English:  https://lnkd.in/dgzJSu7J

Related Questions

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How has Oded Salomy influenced the development of digital currencies in Israel?
What are Oded Salomy's views on the entry of fintech companies like Revolut into the Israeli market?
How does Oded Salomy see the future of payment systems in Israel?
What initiatives has Oded Salomy led at the Bank of Israel?
Oded Salomy 🎗️
Oded Salomy 🎗️, photo 1
Oded Salomy 🎗️, photo 2
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Location

Israel