10 Israeli fintech startups shaping financial services today

Israeli startups are embracing machine learning, big data analytics, and cloud to reinvent payment systems.

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With more than 500 companies ranging from fledgling startups to unicorns, Israel's fintech ecosystem has pioneered the use of technology such as machine learning, big-data  analytics, and cloud-based services for the financial industry.

It has also attracted global attention, billions in venture investment and the embrace of major companies and financial institutions abroad. 

Venture investment in the sector has surged over the last three years. In 2019, Israeli fintech firms raised $1.7 billion in venture funding, more than twice the amount the previous year, and triple the figure for 2016, according to the Israel Venture Capital Research Center, which tracks venture investments.

 The startups run the breadth of the fintech category, from payments and loans, to accounting and antifraud, to insuretech and asset management.

The strength is all the more notable given the relative lack of competition in Israel's domestic banking sector, the fact that Israel isn't a center of finance, and that the country's capital markets are small.

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