Israeli Fintech Startups Share Their Experiences At FIN & TECH Talk

Alternate Text TABF President Hang Huang gave the opening remarks at the first in a series of talks

Five Israeli startups introduced their businesses and share their experiences in the first of four Fin & Tech talks, held on June 18, 2020 in the Fin & Tech Village. The focus points of the participants covered a full spectrum from technical back-end to data-powered business advisory services, highlighting the diversity of the Israeli fintech ecosystem.

Scanovate (a compliance service provider), BeyondMinds (an AI firm), Glassbox (website traffic visualization), TradAir (a trading platform), and The Floor (a consultant and matchmaker for banks) all participated from Israel via videoconferencing. It became clear that whatever the technology involved, providers must tailor their solutions for each banking client, as well as for frequently changing regulations and business trends. Mr. Or Kremer, CMO of BeyondMinds, noted for example that 80% of its algorithms come out of the box, while the focus of its work is on the remaining 20% to be customized in each case.

The event also featured an introduction by Prof. Dudi Gershon of Hebrew University of Jerusalem on the current status of the fintech sector in Israel. It continues to grow significantly, despite the lack of major financial markets within Israel itself; investment in fintech has more than doubled over the past year. Omer Caspi, Representative of the Israel Economic & Trade Mission in Taipei, which helped organize the event, complimented Taiwan on its stability, particularly in light of the COVID-19 crisis.

Fin & Tech Village, opened by TABF in September 2018, is a space for meetings, seminars, training, and other activities by banks and their potential fintech partners. The event was attended by bankers, regulators, and other online viewers.

This series will include four talks. The next one, on July 9, will feature startups from the US.