Israel will set up a national fintech-cyber innovation lab in the southern city of Beer Sheva, the Israel National Cyber Directorate (INCD), the Israel Innovation Authority (IIA) and the Ministry of Finance said on Monday.
The lab’s goal is to accelerate Israeli startup companies and entrepreneurs in the fintech and cyber industries and to stimulate international investments.
Thus, the lab will promote startups and entrepreneurs by providing access to unique knowhow and expertise in the financial and cyber sectors as well as access to financial data, regulations, products and processes.
The lab will also develop cyber defense solutions for the financial sector, focusing on credit operations, blockchain, securities, clearance, and insurtech. Enditem