Regulatory Alerts2019-12-06
Bank of Israel Regulation on Provision of a Professional Human Response
The Bank of Israel issued Directive no. 426 to implement Amendment 29 to the Banking (Service to the Customer) Law, requiring banking corporations to provide professional human responses via call centers. The regulation mandates that hold times for specified inquiries must not exceed six minutes during core hours, while allowing for specific deviation alternatives to maintain service quality. Additionally, the directive requires priority routing for customers aged 75 and older and obligates banks to monitor response data and disclose contact options on their websites.
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