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First International Bank of Israel Reports Financial Results for the Third Quarter of 2024

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Reflects continued growth and high profitability while maintaining financial stability

TEL AVIV, Israel, Nov. 25, 2024 /PRNewswire/ — First International Bank of Israel (TASE: FIBI) one of Israel’s major banking groups, today announced its results for the third quarter and nine-month period ended September 30, 2024.

Financial Highlights

Financial Highlights for the Third Quarter of 2024

Net income of NIS 620 million and a return on equity of 19.4% in the third quarter of 2024;Net income of NIS 1,798 million and a return on equity of 19.4% for the first nine months of the year;Credit to the public grew by 6% compared to the end of 2023 and by 3.5% compared to the second quarter of the year;Deposits by the public grew by 11.4% compared to the end of 2023, and by 4.3% compared to the second quarter of the year;The portfolio of customers’ assets grew by 19% compared to the end of 2023, and reached NIS 800 billion;Equity attributed to the Bank’s shareholders was NIS 13 billion, an increase of 8.2% compared to the end of 2023;The tier 1 capital ratio was 11.41%;The Bank’s Board of Directors decided to distribute a dividend in the amount of NIS 248 million, representing 40% of the net income.

Financial Results of the Third Quarter 2024

Net profit for the First International Bank Group was NIS 620 million in the third quarter of 2024, an increase of 36.3 % compared to the comparative quarter in the previous year. Return on equity was 19.4%.

The net profit for the first nine months of the year was NIS 1,798 million, an increase of 7.5% compared to the comparative period in the previous year. The return on equity was 19.4%.

Expense for credit losses was NIS 22 million in the third quarter, amounting to 0.07% of the average balance of credit to the public. Income for credit losses amounted to NIS 51 million in the first nine months of the year, primarily from debt recovery. In the corresponding period of last year, expenses of NIS 336 million were recorded which was due to an increase in collective provisions because of concerns over macroeconomic impacts, amid uncertainty.

High-quality credit portfolio: the NPL (non-performing loan) ratio remained stable and reached 0.57% at the end of the third quarter. This reflects the quality of the credit portfolio, (the balance of debts not accruing or overdue by 90 days or more out of the total credit to the public). The total coverage ratio (the ratio of the total credit loss provisions to the total credit to the public) stood at 1.41%, compared to 1.37% in the comparative period last year.

The operating and other expenses were NIS 2,240 million in the first nine months of the year, an increase of 2% compared to the comparative period in the previous year, mainly due to an increase in other expenses: IT-related, donations, telecommunications and advertising. The efficiency ratio stood at 44.5%.

Credit to the public amounted to NIS 126.4 billion, an increase of 6% compared to the end of 2023. There was an increase in the credit of 3.5% in the third quarter, compared to the second quarter of the year.

Deposits by the public amounted to NIS 213 billion, an increase of 11.4% compared to the end of 2023, and 4.3% compared to the second quarter.

The total customers’ assets portfolio increased by 26% year-over-year and by 19% compared to the end of 2023, to approximately 800 billion.

Equity attributed to shareholders in the Bank increased to NIS 13 billion, an increase of 8.2% compared to the end of 2023. The tier 1 capital ratio reached 11.41%, approximately -2.2% above the regulatory requirement, reflecting the highest capital surplus in the Israeli banking system. The liquidity coverage ratio is high and stands at 171%.

Considering the requests of the Banking Supervisor regarding capital planning and profits distribution policies, the Bank’s Board of Directors decided to approve the distribution of a cash dividend to the shareholders for NIS 248 million representing 40% of the net income. The Bank’s Board of Directors will continue to review the implementation of the Bank’s dividend distribution policy in light of ongoing developments and their impact on the Israeli economy and on the Bank.

Management Comment

Eli Cohen, CEO of First International Bank, commented: ,”The Bank’s reports reflect a growth trend both on the passive side, including deposits and securities of the public, which reached a record NIS 800 billion, and also on the active side, with a considerable increase in the credit portfolio, which has been achieved while maintaining the quality of the underwriting and portfolio diversification.

“Amid economic uncertainty and the ongoing multi-front war in Israel, the First International Bank maintained high capital and liquidity cushions, ensuring resilience and our ability to continue supporting our customers. The Bank is continuing to provide benefits and relief measures for customers to help them navigate the current challenging period.

“I am proud to say that the First International Bank’s customers are the most satisfied among bank customers in Israel, reporting high satisfaction with the Bank, the professionalism of its services and their willingness to recommend the bank to their friends. This is evidenced via customer surveys, including the recent Marketest survey. This reflects the high quality service and competitiveness of the First International Bank, as well as the professionalism and the dedication of our Group’s employees, all of whom have contributed to the achievement.

“We recently announced a number of management changes at the Bank: Vered Golan was appointed to the position of Head of the Corporate Division, Dr. Moriah Hoftman-Doron was appointed to the position of Chief Legal Counsel, and Liora Shechter was appointed CEO of Mataf. I wish considerable success to the new members of our management team.”

 

CONDENSED PRINCIPAL FINANCIAL INFORMATION AND PRINCIPAL EXECUTION INDICES

Principal financial ratios

For the nine months
ended September 30,

For the year ended
December 31,

2024

2023

2023

in %

Principal execution indices

Return on equity attributed to shareholders of the Bank(1)

19.4

20.5

19.7

Return on average assets(1)

1.05

1.10

1.06

Ratio of equity capital tier 1

11.41

10.84

11.35

Leverage ratio

5.17

5.30

5.26

Liquidity coverage ratio

171

142

156

Net stable funding ratio

142

138

146

Ratio of total income to average assets(1)

2.9

3.3

3.2

Ratio of interest income, net to average assets (1)

2.1

2.5

2.4

Ratio of fees to average assets (1)

0.7

0.7

0.7

Efficiency ratio

44.5

43.6

43.5

Credit quality indices

Ratio of provision for credit losses to credit to the public

1.29

1.25

1.36

Ratio of total provision for credit losses (2) to credit to the public

1.41

1.37

1.50

Ratio of non-accruing debts or in arrears of 90 days or more to credit to the public

0.57

0.49

0.60

Ratio of provision for credit losses to total non-accruing credit to the public

230.5

263.8

234.5

Ratio of net write-offs to average total credit to the public (1)

(0.06)

–

0.03

Ratio of expenses (income) for credit losses to average total credit to the public (1)

(0.06)

0.38

0.42

Principal data from the statement of income

For the nine months
ended September 30,

2024

2023

NIS million

Net profit attributed to shareholders of the Bank

1,798

1,673

Interest Income, net

3,601

3,820

Expenses (income) from credit losses

(51)

336

Total non-Interest income

1,436

1,216

   Of which:      Fees

1,123

1,131

Total operating and other expenses

2,240

2,197

   Of which:      Salaries and related expenses

1,302

1,353

Primary net profit per share of NIS 0.05 par value (NIS)

17.92

16.67

Principal data from the balance sheet

30.9.24

30.9.23

31.12.23

NIS million

Total assets

242,512

210,673

221,593

of which:    Cash and deposits with banks

81,440

61,659

68,866

                Securities

28,860

22,043

26,985

                Credit to the public, net

124,749

118,577

117,622

Total liabilities

228,823

198,542

208,947

of which:    Deposits from the public

212,907

181,274

191,125

                Deposits from banks

2,631

3,824

4,314

                Bonds and subordinated capital notes

4,474

4,751

4,767

Capital attributed to the shareholders of the Bank

13,066

11,583

12,071

Additional data

30.9.24

30.9.23

31.12.23

Share price (0.01 NIS)

15,410

16,360

14,990

Dividend per share (0.01 NIS)

739

706

795

(1)    Annualized.

(2)    Including provision in respect of off-balance sheet credit instruments.

 

CONSOLIDATED STATEMENT OF INCOME

(NIS million)

For the three months
ended September 30

For the nine months
ended September 30

For the year Ended
December 31

2024

2023

2024

2023

2023

(unaudited)

(unaudited)

(unaudited)

(unaudited)

(audited)

Interest Income

2,955

2,590

8,410

7,289

9,850

Interest Expenses

1,690

1,363

4,809

3,469

4,884

Interest Income, net

1,265

1,227

3,601

3,820

4,966

Expenses (income) from credit losses

22

165

(51)

336

502

Net Interest Income after expenses from credit losses

1,243

1,062

3,652

3,484

4,464

Non- Interest Income

Non-Interest Financing income

153

(1)

300

78

142

Fees

396

375

1,123

1,131

1,502

Other income

3

–

13

7

8

Total non- Interest income

552

374

1,436

1,216

1,652

Operating and other expenses

Salaries and related expenses

430

438

1,302

1,353

1,746

Maintenance and depreciation of premises and equipment

91

89

264

256

341

Amortizations and impairment of intangible assets

36

31

99

91

122

Other expenses

220

175

575

497

668

Total operating and other expenses

777

733

2,240

2,197

2,877

Profit before taxes

1,018

703

2,848

2,503

3,239

Provision for taxes on profit

390

247

1,033

869

1,090

Profit after taxes

628

456

1,815

1,634

2,149

The bank’s share in profit of equity-basis investee, after taxes

22

21

62

105

113

Net profit:

Before attribution to non‑controlling interests

650

477

1,877

1,739

2,262

Attributed to non‑controlling interests

(30)

(22)

(79)

(66)

(90)

Attributed to shareholders of the Bank

620

455

1,798

1,673

2,172

NIS

Primary profit per share attributed to the shareholders of the Bank

Net profit per share of NIS 0.05 par value

6.18

4.53

17.92

16.67

21.65

 

STATEMENT OF COMPREHENSIVE INCOME

(NIS million)

For the three months
ended September 30

For the nine months
ended September 30

For the year Ended
December 31

2024

2023

2024

2023

2023

(unaudited)

(unaudited)

(unaudited)

(unaudited)

(audited)

Net profit before attribution to non‑controlling interests

650

477

1,877

1,739

2,262

Net profit attributed to non‑controlling interests

(30)

(22)

(79)

(66)

(90)

Net profit attributed to the shareholders of the Bank

620

455

1,798

1,673

2,172

Other comprehensive income (loss) before taxes:

Adjustments of available for sale bonds to fair value, net

129

52

(115)

78

213

Adjustments of liabilities in respect of employee benefits(1)

(2)

34

10

37

25

Other comprehensive income (loss) before taxes

127

86

(105)

115

238

Related tax effect

(49)

(29)

41

(40)

(81)

Other comprehensive income (loss) before attribution to non‑controlling interests, after taxes

78

57

(64)

75

157

Less other comprehensive income (loss) attributed to non‑controlling interests

3

1

(2)

6

9

Other comprehensive income (loss) attributed to the shareholders of the Bank, after taxes

75

56

(62)

69

148

Comprehensive income before attribution to non‑controlling interests

728

534

1,813

1,814

2,419

Comprehensive income attributed to non‑controlling interests

(33)

(23)

(77)

(72)

(99)

Comprehensive income attributed to the shareholders of the Bank

695

511

1,736

1,742

2,320

(1)   Mostly reflects adjustments in respect of actuarial assessments as of the end of the period regarding defined benefits pension plans and deduction of amounts recorded in the past in other comprehensive income.

 

CONSOLIDATED BALANCE SHEET

(NIS million)

September 30,

December 31,

2024

2023

2023

(unaudited)

(unaudited)

(audited)

Assets

Cash and deposits with banks

81,440

61,659

68,866

Securities

28,860

22,043

26,985

Securities borrowed

147

155

57

Credit to the public

126,374

120,073

119,240

Provision for Credit losses

(1,625)

(1,496)

(1,618)

Credit to the public, net

124,749

118,577

117,622

Credit to the government

1,611

1,015

1,055

Investment in investee company

854

776

786

Buildings and equipment

852

871

877

Intangible assets

350

305

328

Assets in respect of derivative instruments

2,308

3,940

3,651

Other assets(2)

1,341

1,332

1,366

Total assets

242,512

210,673

221,593

Liabilities and Capital

Deposits from the public

212,907

181,274

191,125

Deposits from banks

2,631

3,824

4,314

Deposits from the Government

689

665

750

Securities lent or sold under agreements to repurchase

1,542

–

–

Bonds and subordinated capital notes

4,474

4,751

4,767

Liabilities in respect of derivative instruments

2,086

3,496

3,784

Other liabilities(1)(3)

4,494

4,532

4,207

Total liabilities

228,823

198,542

208,947

Shareholders’ equity

13,066

11,583

12,071

Non-controlling interests

623

548

575

Total capital

13,689

12,131

12,646

Total liabilities and capital

242,512

210,673

221,593

(1)    Of which: provision for credit losses in respect of off-balance sheet credit instruments in the amount of NIS 160 million and NIS 150 million and NIS 165 million at 30.9.24, 30.9.23 and 31.12.23, respectively.

(2)    Of which: other assets measured at fair value in the amount of NIS 16 million and NIS 13 million and NIS 10 million at 30.9.24, 30.9.23 and 31.12.23, respectively.

(3)    Of which: other liabilities measured at fair value in the amount of NIS 48 million and NIS 26 million and NIS 11 million at 30.9.24, 30.9.23 and 31.12.23, respectively.

 

STATEMENT OF CHANGES IN EQUITY

(NIS million)

For the three months ended September 30, 2024 (unaudited)

Share
capital and
premium (1)

Accumulated
other
comprehensive
income (loss)

Retained
earnings (2)

Total
share-holders’
equity

Non-
controlling
interests

Total
capital

Balance as of June 30, 2024

927

(292)

11,980

12,615

590

13,205

Net profit for the period

–

–

620

620

30

650

Dividend

–

–

(244)

(244)

–

(244)

Other comprehensive income, after tax effect

–

75

–

75

3

78

Balance as at September 30, 2024

927

(217)

12,356

13,066

623

13,689

For the three months ended September 30, 2023 (unaudited)

Share
capital and
premium (1)

Accumulated
other
comprehensive
income (loss)

Retained
earnings (2)

Total
share-holders’
equity

Non-
controlling
interests

Total
capital

Balance as of June 30, 2023

927

(290)

10,655

11,292

525

11,817

Net profit for the period

–

–

455

455

22

477

Dividend

–

–

(220)

(220)

–

(220)

Other comprehensive income, after tax effect

–

56

–

56

1

57

Balance as at September 30, 2023

927

(234)

10,890

11,583

548

12,131

For the nine months ended September 30, 2024 (unaudited)

Share
capital and
premium (1)

Accumulated
other
comprehensive
loss

Retained
earnings (2)

Total
share-holders’
equity

Non-
controlling
interests

Total
capital

Balance as at December 31, 2023 (audited)

927

(155)

11,299

12,071

575

12,646

Net profit for the period

–

–

1,798

1,798

79

1,877

Dividend

–

–

(741)

(741)

(29)

(770)

Other comprehensive loss, after tax effect

–

(62)

–

(62)

(2)

(64)

Balance as at September 30, 2024

927

(217)

12,356

13,066

623

13,689

For the nine months ended September 30, 2023 (unaudited)

Share
capital and
premium (1)

Accumulated
other
comprehensive
income (loss)

Retained
earnings (2)

Total
share-holders’
equity

Non-
controlling
interests

Total
capital

Balance as at December 31, 2022 (audited)

927

(303)

9,935

10,559

476

11,035

Adjustment of the opening balance, net of tax, due to the effect of initial implementation in investee company*

–

–

(10)

(10)

–

(10)

Adjusted balance at January 1, 2023, following initial implementation

927

(303)

9,925

10,549

476

11,025

Net profit for the period

–

–

1,673

1,673

66

1,739

Dividend

–

–

(708)

(708)

–

(708)

Other comprehensive income, after tax effect

–

69

–

69

6

75

Balance as at September 30, 2023

927

(234)

10,890

11,583

548

12,131

STATEMENT OF CHANGES IN EQUITY (CONT’D)

(NIS million)

For the year ended December 31, 2023 (audited)

Share
capital and
premium(1)

Accumulated
other
comprehensive
income (loss)

Retained
earnings(2)

Total

Non-
controlling
interests

Total
capital

Balance as at December 31, 2022

927

(303)

9,935

10,559

476

11,035

Adjustment of the opening balance, net of tax, due to the effect of initial implementation in investee company *

–

–

(10)

(10)

–

(10)

Adjusted balance at January 1, 2023, following initial implementation

927

(303)

9,925

10,549

476

11,025

Net profit for the year

–

–

2,172

2,172

90

2,262

Dividend

–

–

(798)

(798)

–

(798)

Other comprehensive income, after tax effect

–

148

–

148

9

157

Balance as at December 31, 2023

927

(155)

11,299

12,071

575

12,646

*       Cumulative effect of the initial implementation of US accounting principles in the matter of financial instruments – credit losses (ASC-326).

(1)    Including share premium of NIS 313 million (as from 1992 onwards).

(2)    Including an amount of NIS 2,391 million which cannot be distributed as dividend.

 

Contact:
Dafna Zucker
First International Bank of Israel
Zucker.d@fibi.co.il
+972-3-519-6224

 

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SOURCE First International Bank of Israel

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SSI SCHAEFER’s Four-Way Pallet Roaming Shuttle Is Expanding Warehouse Design Possibilities

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SEOUL, South Korea, Oct. 26, 2026 /PRNewswire/ — For warehouse operators in South Korea, warehouse design is increasingly shaped by competing demands: making better use of available space, managing labor constraints and maintaining reliable operations without committing to automation that exceeds business needs.

The challenge is not simply to store more pallets, but to determine how storage capacity can be configured around the inventory characteristics and the movement the operation actually requires.

Rethinking the use of warehouse space

Warehouse capacity is often assessed by the number of pallet positions available. However, the same building footprint can support different storage configurations, each with its own implications for accessibility, material flow and operating requirements.

Four-way pallet roaming shuttles, such as the SSI Pallet Roaming Shuttle, use onboard multi-sensor navigation to determine their position, monitor their surroundings in real time, and accurately detect obstacles. This enables flexible pallet handling across multiple storage levels, opening up greater possibilities for high-density, single- or multi-deep pallet storage configurations.

For facilities where building expansion is restricted, the ability to use available space more effectively can be an important design consideration. With system heights of 24 metres and options for 40 metres subject to configuration, solutions like the shuttle allow warehouse planners to evaluate storage designs that make greater use of the space.

Matching movement capability to operational needs

The significance of four-way movement lies in the flexibility it introduces into storage design. This can be particularly relevant to manufacturing operations storing raw materials or finished goods, food and beverage distribution, and temperature-controlled warehouses where storage conditions and space utilisation are crucial design considerations.

The shuttle supports payloads of up to 3000 kg and uses RFID and photoelectric positioning, with a specified positioning accuracy of ±5 mm. Operating at a maximum aislewise speed of 1.5 m/s when loaded and 1.6 m/s when unloaded, it provides a technical basis for evaluating its suitability against a warehouse’s storage and movement requirement.

Automation solving the right challenges, at the right time

For South Korean warehouse operators facing a rapidly aging population and labor constraints, the question is whether automating pallet storage and movement will address a meaningful operational need. Suited to medium-to-low SKU ranges and lower-throughput applications, the SSI Pallet Roaming Shuttle is worth considering where frequent retrievals and reduced reliance on repetitive manual handling are priorities, rather than high-volume pallet retrieval.

“The value of warehouse automation lies in how well a system fits the operation it is designed to serve. More automation does not automatically mean a better warehouse.

The real measure of an effective solution is how well its storage density, retrieval capability and throughput match the operation’s needs. Investing in capacity or performance that the business cannot fully utilise—or sacrificing retrieval flexibility for density—misses the point of warehouse automation,” said Jeon Jae Beom, Head of Sales, SSI Schaefer Korea.

For South Korean businesses balancing space, labor and investment pressures, the key is to select systems according to its intended role in the wider operation, not on the assumption that greater automation will resolve every capacity or productivity challenge.

For more information, visit www.ssi-schaefer.com/ko-kr.

About SSI SCHAEFER

The SSI SCHAEFER Group is a leading global solution provider for all areas of intralogistics. With innovative technologies and software, the company empowers small to medium-sized enterprises as well as large companies to increase the efficiency and sustainability of their storage, picking, and transport processes. SSI SCHAEFER offers complete solutions ranging from fully automated warehouses with tailored service and maintenance packages to robotics and automated guided vehicles, as well as manual and semi-automated systems such as workstations, racks and containers.

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SOURCE SSI Schaefer Korea

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Heybike Launches V1 Pro, a 72V Power Beast with 8,000W Peak Power and Bigger Attitude

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ONTARIO, Calif., Oct. 23, 2026 /PRNewswire/ — Heybike today announced the launch of the V1 Pro, a 72V electric dirt bike designed for riders who want bigger tires, bigger attitude, and ultimate off-road performance. With 8,000W peak power, 17-inch front and 14-inch rear tires, and Wheelie Boost Assist, the V1 Pro delivers powerful off-road performance while featuring hydraulic disc brakes and a magnetic emergency kill switch. Available now on Heybike’s official website, the V1 Pro is offered at an Early Bird price of $1,999, compared with its $2,199 MSRP.

The 72V Power Beast, Ready for Every Trail

With its oversized Big Foot tires, bold styling, and powerful 72V drive system, the Heybike V1 Pro is built to stand out. Delivering 8,000W peak power and 250 N•m of wheel torque, it reaches speeds of up to 50 MPH and tackles inclines of up to 45°, bringing serious power to demanding off-road adventures.

Its staggered 17-inch front and 14-inch rear Big Foot tires provide a larger rear contact patch for traction, while 285 mm of ground clearance helps the bike clear rocks, roots, and ruts. A 150 mm-travel front fork and rear hydraulic shock help absorb bumps on uneven terrain.

Powered by a 72V 27Ah battery with 1,944 Wh of capacity, the Heybike V1 Pro offers a range of up to 60 miles on a single charge, with charging taking approximately 5.5–6 hours using the included 84V 5A charger.

Smart Control. Your Ride, Your Way.

The Heybike app lets riders adjust speed limits and throttle response, choose from ECO, LINEAR, and SPORT riding modes, and configure regenerative braking to suit their riding preferences and terrain.

For added personalization, an optional Bluetooth speaker and horn accessory supports music playback and multiple simulated motorcycle engine sounds.

Enhanced Protection for Every Adventure

The Heybike V1 Pro combines performance with multiple safety-focused features. Its 220 mm front and 190 mm rear hydraulic disc brakes provide stopping power, while regenerative braking adds another layer of deceleration control.

A magnetic emergency kill switch is designed to cut power if the rider falls or steps away from the bike. A throttle-reset safety mechanism prevents power delivery until the throttle has returned to its reset position.

The Heybike V1 Pro features a UL 2849-certified battery system and an IPX6 waterproof rating, offering added protection for outdoor riding in changing weather conditions.

Together, these features complement the V1 Pro’s performance-focused design with added control and protection for off-road riding.

Wheelie Boost Assist: Unleash Your Wild Side

Experience wheelies like never before. With just a single mode control, Wheelie Boost™ lifts the front wheel to a fixed angle, safely turning a complex trick into an exciting riding experience. Less effort, more wild — unleash your bigger attitude and take your V1 Pro ride to the next level.

Bring the Family Together. Conquer Every Terrain.

More than an off-road ride, the Heybike V1 Pro opens the door to shared outdoor adventures and memorable family moments. Designed to bring riders together, it makes weekend trail rides and outdoor exploration opportunities for parents and teens to connect, build confidence, and discover new terrain side by side.

From family outings to challenging off-road adventures, the V1 Pro brings power, excitement, and the freedom to explore together.

A Step Up From the Original Heybike V1

Launched in the first half of 2026, the Heybike V1 quickly gained popularity among teens across the United States. Building on that success, the V1 Pro takes off-road performance to the next level with nearly 100% more peak power, 43.8% greater battery capacity, 11% higher top speed, 20% more range, and a 50% higher maximum climbing angle.

Beyond raw power, the V1 Pro delivers 31.5% more wheel torque and 14.5% greater ground clearance, along with stronger front and rear suspension system for a smoother ride. Its larger 17-inch front and 14-inch rear Big Foot tires further enhance off-road control and rear traction, while the full-size frame is designed to accommodate a broader range of riders.

Make Their Next Ride Unforgettable

The Heybike V1 Pro is available now for $1,999 (MSRP $2,199). Customers can also receive a limited-quantity launch gift box with their purchase, while supplies last. 

More riding challenges, giveaways, and community activities are on the way. Stay tuned for more ways to ride, connect, and share the adventure.

Shop the Heybike V1 Pro on its official website.

About Heybike

Heybike is a leading global e-bike brand making joy easy to reach for every age and every terrain, from city commutes to off-road adventures, blending accessible innovation, safety-first engineering, and design that connects. Every ride connects you to a worldwide community — to your family, to your city, and to the simple joy of moving. Learn more on Heybike’s official website.

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SOURCE Heybike

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Technology

fileAI Signs Strategic Collaboration Agreement with AWS to Accelerate Rollout of Outcome-Driven AI Agents for BFSI Leaders

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SINGAPORE, Oct. 25, 2026 /PRNewswire/ — fileAI announced a strategic collaboration agreement (SCA) with Amazon Web Services, Inc. (AWS) to bring a new suite of AI agents to banking, financial services, and insurance (BFSI) leaders—built to complete critical operational workflows, not just assist with them.

fileAI’s data intelligence platform, fileForge, transforms enterprise files into trusted, governed intelligence for AI workflows, pairing repeatable skills with business context to carry complex business processes through to completion. Built on Amazon Bedrock and available through AWS Marketplace, it provides industry leaders across Asia and the US direct access to outcome-focused AI agents backed by AWS’s security, scale, and infrastructure.

Two of the company’s latest innovations underpin this philosophy: fileScout maps files ahead of extraction, optimising model routing and drastically reducing token consumption, whilst fileForensics surfaces actionable fraud signals directly into the processing pipeline. Together they ensure only clean, relevant, fraud-checked data ever reaches the workflow. For AWS customers, that means faster cycle times, fewer exceptions, and less manual rework, with the governance and traceability regulated organisations require.

The SCA follows a period of strong momentum for fileAI. On August 27, the company announced investment from SMBC Asia Rising Fund and Singtel Innov8, alongside the debut of fileScout. The funding supports fileAI’s expansion in Japan, building on its June 2026 partnership with JRE Ventures, and deeper investment in financial services capabilities.

“Enterprise AI has to be judged on outcomes, not activity,” said Christian Schneider, CEO of fileAI. “By building on Amazon Bedrock and deepening our collaboration with AWS, we’re giving finance and financial services leaders agents that take their most complex data and carry the work through to a completed, auditable result. With AWS and AWS Marketplace, we can bring that to customers across Asia and the US faster, and with the security and scale they expect.”

“Financial services customers consistently tell us that getting unstructured data ready for workflows they can trust is one of their biggest challenges,” said Jamie Simon, Director, Partner Sales & Development, Asia Pacific & Japan, AWS. “fileAI has built a strong approach to that problem on Amazon Bedrock—combining document intelligence with the governance regulated enterprises require. This collaboration makes it easier for customers to move from AI pilots to production with confidence, and we’re looking forward to scaling it across the region.”

About fileAI

fileAI is the enterprise intelligence company behind fileForge, the leading platform for complex business process automation. Where most AI falls short in production, fileForge provides the structure, validation, and traceability that makes agentic AI reliable by design. It unifies data capture, preparation, governance, and orchestration into auditable, SOP-driven workflows that transform unstructured and semi-structured data into trusted, reusable process intelligence.

Trusted by global enterprises including MS&AD, Toshiba, PwC, KPMG, Nippon Paint, and Keppel, fileAI has processed over 1 billion files across finance, insurance, supply chain, healthcare, and core business operations—delivering governed automation and contextual reuse for the world’s most complex workflows.

View original content to download multimedia:https://www.prnewswire.com/news-releases/fileai-signs-strategic-collaboration-agreement-with-aws-to-accelerate-rollout-of-outcome-driven-ai-agents-for-bfsi-leaders-302917894.html

SOURCE fileAI

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