Israel's largest bank is working with Microsoft to develop a blockchain-based platform.

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According to the Times of Israel, Bank Hapoalim – the country's largest by assets – will look to digitize the largely paper-based process. Reportedly involved in discussions around the launch is the Bank of Israel (the nation's central bank).

"The new process will enable Bank Hapoalim customers to receive security documents in a digital, automated and secure manner, without physically coming to the branch and in a very short process. The use of blockchain technology will significantly improve the customer experience and the level of trust in the banking system."

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