Money 20/20 Conference Spotlights Cutting-Edge Israeli Fintech Innovators
As digital disruption infuses a diverse spectrum of industries, finance has seen some of the biggest transformations. Blockchain, data analytics, personal financial management tools, and sophisticated payment solutions have reshaped the financial landscape, giving rise to a new breed of fintech startups and spurring legacy institutions to invest in innovative technologies. Naturally, many of the most significant developments in fintech are unfolding in the heart of the Start-Up Nation.
Israel is home to more than 500 fintech startups, and the country’s well-developed capabilities in fields like insuretech, big data, cybersecurity, and payments have attracted approximately 40 multinational financial services firms, which have established local offices, R&D hubs, and innovation labs in the country.
The recent Money 20/20 conference, which held in Las Vegas on Oct. 27-30, showcased some of Israel’s most innovative fintech companies and their solutions before a global audience of financial industry executives, thought leaders, and entrepreneurs. Together with the Israel Export Institute, the Foreign Trade Administration hosted Israel’s national pavilion at the conference. When attendees weren’t delving into conference topics like blockchain and cryptocurrencies, payments technologies, investing and entrepreneurship, regulation, cybersecurity, emerging markets, and digital trust, they had the chance to get acquainted with cutting-edge Israeli companies like these:
- Anagog’s pioneering on-device artificial intelligence solution is designed to enable companies to derive valuable insights from personal data – without sacrificing individuals’ personal privacy. How? The company’s edge-AI technology – already downloaded onto more than 25 million smartphones globally – uses smartphone sensors to generate insights on customer behavior and context – helping industries like banking improve customer service through tailored interactions and predictive insights.
- Know Your Customer (KYC) regulations are central to the global anti-money laundering regime, and Au10Tix’s automated ID authentication technology helps top global brands like Visa, Google, PayPal, and Payoneer speed up customer activation and carry out effective KYC by integrating sophisticated algorithms and R&D methodologies, verifying customers’ identities in an average of just 4.5 seconds.
- GigaSpaces provides customers like Morgan Stanley, Bank of America, Goldman Sachs, Charles Schwab, UBS, and many more a platform for rapid data analytics and extreme transaction processing, allowing companies to efficiently glean insights from an abundance of real-time and historical data.
- For financial institutions and other legacy firms implementing their digital transformation strategies, integrating legacy APIs can take six months – but not if they’re using OpenLegacy, which slashes integration to hours and can create a legacy API in minutes. Dubbed a “Cool Vendor” by Gartner, the company is recognized as a global leader in transforming enterprise businesses.
- ai utilizes AI technology to develop human-friendly voice assistants for call centers, enabling companies to reduce call center costs and free up human agents’ time for the most complex cases. Useful for functions like debt collection, insurance upselling, telecommunications, and product/service renewals, the company’s solution has won numerous fintech innovation awards.
A sure bet is a rarity in Vegas – but for Money 20/20 attendees, there was nothing but upside in paying a visit to this year’s Israeli pavilion.
For more information, please visit http://www.itrade.gov.il/ or contact us at the Israel Economic & Trade Mission in Taipei!