The Israel Securities Authority is establishing a Fintech Innovation Hub. This initiative is aimed at promoting common discourse between the ISA and relevant players in the field of Fintech. We encourage Fintech companies and entrepreneurs to engage the ISA in order to learn and understand the relevant regulatory framework and to adjust their activity to meet regulation standards, through guidance of the ISA’s staff.
The past decade has been accompanied by innovative technological breakthroughs designed to improve and streamline the services in the financial industry. The volume of investments in Fintech has seen tremendous growth, reaching tens of billions of USD yearly. It is estimated that hundreds of Fintech companies are operating in Israel alone. The ISA sees great potential in the innovative field of Fintech and its ability to revolutionize the financial markets in Israel and contribute to the Israeli economy and capital markets.
Against this backdrop, the ISA aims at establishing trust and providing certainty to the Fintech Industry. In furtherance of this goal, the ISA invites and encourages market actors in the Fintech Industry to contact its staff with the purpose of becoming familiar with the relevant regulatory framework and to examine any required adjustments to their activity, through guidance of the ISA’s staff.
In addition, The ISA sees great importance in expanding its knowledge and understanding of this Industry, with the intention of avoiding future regulatory obstacles and inappropriate regulatory burden. The ISA also views this as an opportunity to assess whether any adjustments to existing regulation are required.
We invite any relevant players in the field of Fintech to engage us with any thoughts or comments on this issue, including (but not limited to) the method and tools for implementing the aforementioned Innovation Hub