Finastra Strengthens Its Position in Israel With New Office Opening

TEL AVIV, Israel, Jan. 27, 2020 /PRNewswire/ -- Finastra is investing further in Israel with a new office in Kfar Saba, just outside Tel Aviv. The office, which is home to over 330 employees, offers more space for the Finastra team to grow as the company strengthens its position in the country, and provides an ultra-modern workspace to inspire creativity and facilitate collaboration. The move will help the company support technological and financial innovation in the region, and drive adoption of its open development platform, FusionFabric.cloud.

To mark the opening, Finastra welcomed an audience of banks, fintechs, government bodies and industry partners to a celebration event, with keynote speakers Chemi Peres (Co-Founder, Pitango Venture Capital) and Dr Amiram Appelbaum (Chief Scientist, Ministry of Economy and Industry). Also on the agenda, the "Fintech Factor" showcased four of Israel's most innovative fintechs - AIO, CRiskCo, Sonarax and Vala - who delivered rapid-fire pitches. AIO, voted as the favorite by the audience, is now integrating its solution to Finastra's APIs through FusionFabric.cloud.

Eli Rosner, Chief Product and Technology Officer at Finastra, said, "Finastra has been operating in Israel for many years, and during the last few, we've seen a surge in the number of fintech developments. According to PitchBook data, fintechs headquartered in Israel raised over US$143 million in funding in 2018, 145% more than 2017's $58 million. As we step up the pace of adoption on FusionFabric.cloud, it's crucial for Finastra to have a more significant presence in the region and help drive innovation and collaboration in the industry. We look to strengthen our collaboration with local financial institutions, academia, fintechs and government bodies to achieve this."

Sagive Greenspan, SVP, General Manager, Payments and General Manager of Finastra Israel said, "Israel has been Finastra's main hub for payments for many years. We have developed a team of research and development and global services specialists who deliver payment solutions for some of the leading banks in the world. The new office offers a collaborative environment that will inspire our employees, breed creativity and encourage innovation. Ultimately, this will enable Finastra to increase its footprint with existing clients as well as to grow its customer base by positioning innovative solutions in payments and across other business lines."

Finastra aims to become the most inclusive and diverse employer in fintech, a key part of which includes ensuring its offices deliver a modern working environment to drive collaboration. To facilitate this, the office in Israel blends some of the most modern technology with fun and creative décor, which includes themed scrum areas and a fully equipped music room.

finastra.com

About Finastra

Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Supported by the broadest and deepest portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes across the globe, including 90 of the world's top 100 banks. Our open architecture approach brings together a number of partners and innovators. Together we are leading the way in which applications are written, deployed and consumed in financial services to evolve with the changing needs of customers. Learn more at finastra.com.

SOURCE Finastra