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Peer2Peer Finance News | June 18, 2019

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UK and Israel agree to cooperate on fintech and cyber security

UK and Israel agree to cooperate on fintech and cyber security
Tim Evershed

THE UK and Israel have agreed to work more closely together in the areas of fintech and cyber security innovation.

TheCityUK, which represents financial services in the UK, and City TLV of Israel, which promotes Greater Tel-Aviv as an international financial centre, have signed a Memorandum of Understanding (MoU) to bolster digital innovation and collaboration between the two countries.

The MoU aims to benefit each country’s sectors through enhanced cross-border collaboration and initiatives.

The partnership is also expected to encourage new global business opportunities by streamlining the exchange of technology and expertise between both markets.

“Israel has the highest density of start-ups per capita in the world,” said Miles Celic, chief executive officer at TheCityUK.

Read more: New fintech hub opens in Belfast

“Tel Aviv is a global leader in innovation and technology which is driving the emergence of fintechs, particularly in cybersecurity, information security, artificial intelligence and mobile innovation.

“It is a natural partner for the UK and will help to further build on London’s position as the world’s leading fintech centre.”

Read more: Augmentum’s fintech fund puts £2.5m into Unmortgage

“The UK is a critical partner in our global fintech network, with natural synergies between our financial ecosystems,” said Shmuel Ben-Tovim, president of City TLV.

“Both markets share a commitment to excellence in innovation and technology and take a global outlook to taking these products to market.”

Read more: Augmentum’s fintech fund invests £5.3m in Monese