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Cybersecurity and Israel's booming fintech space

By NexChange

Cybersecurity was high on the agenda this week when a delegation of Israeli startups gathered in Hong Kong for the 2nd Israeli FinTech Forum.

The event, hosted by the Consulate General of Israel of Hong Kong and Macau alongside FinTech HK, saw a total of 11 companies showcasing their businesses to attendees.

Sectors varied from payments and big data analytics to software-as-a-service (SaaS) solutions, but security was overwhelmingly the biggest fintech sub-sector. Here are some of the start-ups that presented:

Algosec (Cyber securuty)
Beyond Security (Cyber securuty)
BondIT (Portfolio managament)
Checkmarx (Cyber Security)
CyberInt  (Cyber Security)
OffLA (Cyber Security) (Payments)
SentinelOne (Cyber Security)
ThetaRay (Big Data)
Wisesec (Payments)
2 Team (SaaS)

Israel is a natural hub for the fast-growing cyber security industry which offers a range of fintech solutions including fraud preventation and anti-hacker software.

The sector sits at a crossroads between the Israel's hi-tech industry and its sizable defense sector. The synergies are such that Israel startups are now poaching military and intelligence officers to give them the competitive edge in the space, according to the Wall Street Journal.

For its part Hong Kong could be a big investor in Israeli cyber security. During the event, Sagi Karni, Israel's Consul General in Hong Kong, told the audience that in the last three years VC flows from Hong Kong to Israel's tech industry totalled $500 million, and the number is increasing.
Photo: istock

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