TheCityUK and City TLV of Israel have signed a landmark Memorandum of Understanding (MoU) to bolster FinTech and cybersecurity cooperation.
The agreement aims to bring mutual benefit to each country’s sectors through enhanced cross-border collaboration and initiatives.
According to a statement by TheCityUK, the partnership will strengthen support for innovation and encourage new global business opportunities by streamlining the exchange of technology and expertise between both markets.
Miles Celic, chief executive officer, TheCityUK, said: “Israel has the highest density of start-ups per capita in the world. 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. Our MoU with City TLV will help deepen an already close relationship and help firms in both centres to grasp new opportunities in this growing global sector.”
TheCityUK is a private-sector membership body and industry advocacy group promoting the financial and related professional services industry of the United Kingdom.
City TLV is a partnership for the promotion of Greater Tel-Aviv as an International Financial Center. Its main objectives are to create a world-class hub of selected financial services in Tel Aviv; to expose Israel and Tel-Aviv as a center of financial and professional services of the highest quality; promote exports of financial services from Israel and to attract foreign investments to the industry; as well encourage collaboration among governmental ministries, regulatory institutions, municipalities and the private sector, including banks, funds, accounting and law firms, etc.
Shmuel Ben-Tovim, president of City TLV, added: “The UK is a critical partner in our global FinTech network, with natural synergies between our financial ecosystems. Both markets share a commitment to excellence in innovation and technology and take a global outlook to taking these products to market.
“City TLV will aim to include in the implementation of the MoU with TheCityUK all relevant associations in Israel, including Fintech Fever, The Floor, Fintech Aviv, IATI, Israel Export Institute and Start-up Nation. This MoU is another example of our focused efforts to enable a global FinTech ecosystem which can generate returns for all stakeholders.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
