Finovate Alums Help Represent Fintech Innovation in Israel

Finovate Alums Help Represent Fintech Innovation in Israel published an interesting, metric-based post on the tech scene in Israel. The post emphasized that while the country has a well deserved reputation as a “cybersecurity hotspot,” it is also true that “Israel’s tech ambitions and prowess extend much further.”

The salient statistic for me: 430—the number of fintech startups headquartered in Israel—is highly impressive, considering only 90 fintech startups existed in 2009.

With that in mind, here’s a look at some recent Israel-based Finovate alums who are helping make the country one of the world’s key locations for fintech innovation.

Our 14 Israel-based Finovate alums have raised more than $164 million in funding. Two alums—NICE Systems and Top Image Systems—are publicly traded on the Nasdaq, and two more— and TipRanks—have won Best of Show awards.


There’s no doubt the fintech in Israel is on the move. The country’s first fintech hub, The Floor, was launched in 2015, and as of March 2016 is now located at the Tel Aviv Stock Exchange. Writing about why fintech innovation is thriving in Israel, VentureBeat’s Avi Zeevi of Carmel Ventures highlighted a few key features:

  • Mastery of relevant technologies such as real-time analytics, cybersecurity, and risk management
  • Legacy of success creating a “startup ecosystem (with) massive amounts of knowledge”
  • The country has learned from other key global financial centers
  • Global financial institutions have a presence and have been investing in Israel
  • Israeli FIs “have always been open to innovation”

“All of this had led to a dramatic rise in investments in Israel fintech companies,” Zeevi wrote. “By addressing the needs of both developed and emerging markets, Israeli fintech will only continue to grow.”

Are you an Israel-based Finovate or FinDEVr alum that we overlooked? Send us an email at and we’ll update our roster.



F5 Networks Buys Versafe to Boost Online Fraud Protection Capabilities

Thumbnail image for VersafeLogo.jpg

Less than one week ago, Israel-based Versafe was in New York City, making their case for total fraud protection before a Finovate audience of more than 1,100, and hundreds more following online.

Who knew how closely F5 Networks must have been listening!


F5 Networks announced today that it was purchasing the Internet security specialist and one-and-done Finovate alum for an undisclosed amount. All 40 employees, including Versafe’s three founders, are expected to remain on board and the company will continue to operate out of its headquarters in Rishon Le Zion, Israel.
Versafe chose FinovateFall 2013 to present some of the latest enhancements to its TotALL Online Fraud Protection Suite. Their technology relies on advanced encryption and real-time behavioral analysis to provide a layer of protection between the end user and the application. This protection is effective regardless of whether the app is access online or via a mobile device.
Versafe was founded in 2009 by Eyal Gruner (CEO), Boaz Zilber (COO), and Idan Amir (VP Sales EMEA). View our Live Blog post of Versafe’s FinovateFall presentation here. The company’s demo video will be available later this month.

Versafe Presents its TotALL Online Fraud Protection Suite for Web and Mobile App Security


This post is part of our live coverage of FinovateFall 2013.

Versafe is making its way to the stage right now. The company’s solutions provide fraud protection for mobile and online applications.
“The TotALL Online Fraud Protection Suite protects the login, user profile & transaction communication between the endpoint and web and mobile applications in real-time, without requiring software download or any user involvement whatsoever. 
The solution leverages advanced application-layer encryption, sophisticated malware detection, and real-time behavioral analysis to proactively protect user credentials, accounts, and monies. And with several implementation models, including a rapid deployment option not requiring any application development, protection across an organization’s entire user base can begin as soon as tomorrow. 
Protect ALL online users. From ALL malware, threat types. On ALL devices. ALL transparently to the user.”
Product Launch: October 2010 (with several enhancements and versions since)
Metrics: 30+ customers internationally, Susquehanna Growth Equity investment of $5M, over 50 employees & over 50M online users protected. Transparently. 
Product distribution strategy: Direct to Business (B2B) & via other fintech companies/platforms
HQ: Rishon Le Zion, Israel
Founded: September 2009
Presenting Jens Hinrichsen (VP, Marketing & Business Development) 
The full demo video will be available at in mid-September.

Finovate Alumni News– August 30, 2013

  • FinovateLOGO.jpgJack Henry Banking takes a look at the trend toward outsourcing by mid-tier banks.
  • Versafe warns about new cross-device, mobile malware challenges to multi-factor authentication strategies. Meet Versafe at FinovateFall 2013 in New York City in September.
  • Intuit launches QuickBooks Cloud ProAdvisor Program, providing free access to Intuit’s online products.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateFall 2013 Sneak Peek: Part 3


This week, we’re bringing you part three of our FinovateFall Sneak Peek series. If you missed the first two installments, check them out:

Here are a few more of the 70 companies that will demo their new technology on September 10 and 11 in New York: Guide FinancialLumesis, mBank & Accenture, SpearFysh, TipRanks, Toopher, and Versafe.

Want to join us in New York in September? Get your ticket to FinovateFall 2013 here. To learn more about FinovateFall, check out the FAQ.


GuideFinancialLogo.jpgGuide Financial’s Guide is a personal money mentor to mainstream America – providing free, unbiased, and comprehensive guidance for the 55 million Americans lacking access to financial advice.
    • Finds users thousands in savings 
    • Provides step-by-step guides to capture savings 
    • Simplifies complex choices like refinancing and retirement saving
Why it’s great: An unbiased, free and personalized money mentor for the millions of people without access to quality financial advice


Uri Pomerantz has built career in finance and technology from founding a microfinance lender at 21 to roles at Microsoft, Goldman Sachs, and McKinsey.
Scott Burns, CFA, has driven financial innovation for social impact, from retail banking in India to private equity investing in emerging markets


Lumesis’ DIVER Advisor delivers critical information in a simple to access and deliverable report to satisfy regulatory requirements while providing users important client portfolio monitoring tools.
    • Satisfy Time of Trade Regulatory Obligations in Seconds vs. 30 Minutes Per Trade
    • Monitor Key Metrics for Client Holdings 
Why it’s great: DIVER brings software solutions to the once dormant and technologically underserved fixed income municipal market.


Gregg Bienstock, Esq. co-founded Lumesis. Previously he led Strategic Initiatives for Ambac FG and served as their CAO. He practiced law for 8 years.
Tim Stevens, CFA co-founded Lumesis in 2010. Previously he was Sr. Managing Director and led Capital Markets for Ambac FG. Prior to that he was a CPA at Deloitte.



mBank and Accenture will present the redesigned online banking system with one of the coolest, most high-tech banking experiences introduced to 3.5 million mBank users.
    • Financial information presented with complexity-on-demand
    • PFM scenarios incorporated throughout the platform
    • Branch-like experience through video chat
Why it’s great: New mBank introduced the most advanced online banking experiences worldwide on an unprecedented scale of 3.5 million customers.


Michal Panowicz, Harvard MBA Alumnus 2006, previously working for Boston Consulting Group, eBay and Microsoft. Joined BRE Bank in 2011.
Maciej Jopyk, Senior Manager at Accenture; Financial Services Systems Integration since 2003.



SpearFysh leverages mobile, speech analytics, big data, & SaaS technology to improve sales process & drive growth.
    • 100% recall of sales conversations
    • Interaction sharing with all involved in the sales process
    • “Voice of customer” mined for sales intelligence
Why it’s great: We help sales organizations drive more predictable revenue growth by leveraging technology to capture, share & analyze the “voice of the customer.”


Marc Miller, Founder & CEO


Gregory Pacholski, President

TipRanks is the first cloud-based service that collects, analyzes and displays unbiased, comparative metrics regarding published stock recommendations, helping retail investors make better decisions.
    • Bloggers added to TipRanks’ universe
    • Email Alerts regarding picks from top performing experts
    • Easy to embed data widgets for discovery
Why it’s great: TipRanks technology collects, measures and displays the performance of anyone providing investment advice online, so you know who to trust.
Gilad Gat, Founder & CTO
Tomer Turgeman, Business Development Director

Toopher is the most usable, most secure authentication solution available. It’s an invisible, multifactor authentication product.
    • Better security (broader, deeper, taller)
    • Productivity
    • Business growth
Why it’s great: Toopher is simple, secure, and stays in your pocket.


Josh Alexander, CEO and Co-Founder: It’s ironic when the person in charge of strategic vision wears glasses.


Versafe protects organizations and their users from the full range of malware and online threats, across all devices, without requiring endpoint software or involving the user in any way.
    • Transparent protection against malware and online threat types
    • All web
      and mobile apps supported 
    • 90%+ reduction in malware and phishing attacks
Why it’s great: Versafe protects ALL online users against ALL threat types and attacks, across ALL devices, ALL transparently to the user.  

Eyal Gruner, CEO and Co-Founder

Jens Hinrichsen headshot.jpg

Jens Hinrichsen, VP, Marketing and Development 
Jens is responsible for Versafe’s go-to-market strategy, guiding its products and services evolution, as well as developing a network of strategic technology and channel partnerships. 
Stay tuned next week for another sneak peek of FinovateFall 2013 companies.

Meet the Innovators of FinovateFall 2013


FinovateFall 2013 is right around the corner. That means it’s time to start getting to know the entrepreneurs and innovators that will be presenting their technologies on stage in New York City in September.

Remember, the early bird deadline is this Friday, August 2nd. So to reserve your spot and register now.


Akimbo Financial offers a social bank account alternative that makes sharing money easier than ever.
authenticIDs identity tools pictureID and catfishID, are the most accurate, time-saving solutions for the forms of ID we already carry.
Backbase‘s Launchpad, the Commercial Banking Edition, making CFO’s work easier.
BehavioSec uses behavioral analytics to transparently tackle web and mobile security.
BillFloat revolutionizes credit delivery to consumers and businesses.
Biometric Signature ID has a patented software-only biometric for secure ID online verification.
BizEquity is the first and leading cloud-based business valuation engine, an innovative solution to small business lead generation.
Capital Access Network is the largest and most experienced small business finance specialist.
Cardlytics uses consumer purchase data to drive a patented advertising platform. Ads are so relevant–they’re expected. 
CoverHound is a comparison insurance adviser, helping people discover, buy, and manage insurance online.
CR2 is the innovative provider of self-service banking solutions including ATM, Internet, and mobile banking.
DoubleBeam‘s SDK powers mPayments inside other mobile apps, helping signup customers quickly and save a ton on the cost of payments.
FinanceIt offers businesses the ability to provide consumer financing to their customers at the POS.
Financial Guard helps you protect your investments, providing online investment advice at the right price, finally.
Finect is the leading online network for the financial services industry.
Fiserv is a leading global technology provider serving the financial services industry, driving innovation in payments.
FlexScore “gamifies” financial planning, gives a “score” of your financial fitness, and provides education, advice, peer comparisons.
Float Money offers interest-free credit to members of its shopping club and financial health partners.
FutureAdvisor manages your investments for better returns, making quality financial advice available to everyone.
GMC Software Technology is a leading software developer of solutions that transform the customer experience.
Guide Financial is like a healthcheck for your finances – automatically scanning your accounts for ways you can earn or save more, and providing simple, easy fixes.
Ignite Sales is the leader in retail banking, customer acquisition, and retention technology.
Innovation Agency, where you can execute on your innovation mandate and unlock the wealth of ideas in your ecosystems.
Instabank – Beautiful money.
Interactions provides natural language Virtual Assistant application services for the automation customer care processes.
Jumio is a next generation credentials management company offering payments and ID scanning and validation products for mobile and web transactions.
Kofax is a leading provider of smart process applications that simplify the business critical First Mile of information-intensive customer interactions.
LearnVest empowers people everywhere to take control of their money and live their richest lives.
Level Money is a financial GPS, designed to replace budgeting.
Lighter Capital provides growth capital to technology companies in a highly-automated basis – Capital-as-a-Service.
Lumesis provides software for the fixed income municipal market. Compliance and credit-focused. 
Luminous is a boutique innovation company that has become synonymous with innovative banking around the world.
Manilla is the leading free and secure service to simplify and organize daily financial life.
MasterCard is a technology company in the global payments industry, operating the world’s fastest payments processing network.
mBank is the biggest, pure-play online bank and the third largest retail bank in Poland.
miiCard is the first digital identity verification service to prove ‘you are who you say you are’ entirely online.
Mitek is positioned as the leading innovator in mobile imaging software. 
MoneyDesktop empowers financial institutions to provide online/mobile banking experiences to promote personal financial intelligence.
Motif Investing is a thematic, customizable, low-cost and crowdsourceable ETF-like product that is disrupting investing economics.

Narrative Science
enables companies to uncover the insight hidden in their data and create new content at a scale and frequency never before possible.
Numbrs – One App – Every Bank.
P2P Cash is the mobile wallet with switch technology that allows us to aggregate all other mWallets and mobile financial services.
PayWith is powered by MasterCard. Funded by Merchants. Loved by Consumers.
PhonyInvoices provides invoice fraud detection and prevention. We check a company’s vendor lists and transactions for suspicious activity.
Place2Give provides valuable and trustworthy information to make the most impactful social capital investment decisions.
QuarterSpot lending platform delivers the lowest cost and most favorable term small business loans.
RevolutionCredit is a revolutionary solution that transforms the credit decisioning process for both creditors and consumers.
SaaS Markets is the enterprise app store company for financial organizations looking to leverage cloud-based applications for their employees or customers.
SavedPlus is an automatic savings program that helps customers save money with every purchase.
Simple Verity provides business credit reports on any SMB in America.
Socure offers a social identity verification solution to combat the growing risk of online identity fraud for financial institutions.
SpearFysh leverages mobile, speech analytics, big data, and SaaS technology to improve sales processes and drive growth.
Spreedly provides vault cards in the cloud and work with more than 50 payment gateways.
StockSmart apps and platform offer insight and information on the world’s best companies and people.
StrategyCorps delivers local/mobile/social consumer checking solutions so appealing and relevant, your customers will gladly pay for them.
Tinkoff Credit Systems is Russia’s leading provider of online financial services.
TipRanks is a cloud-based service that measures the performance of anyone giving investment advice.
Toopher eliminates online fraud using your phone’s location. Simple, secure, your phone stays in your pocket.
Unleash is the cloud CFO that helps small businesses make better decisions faster.
VerifyValid and Deluxe are giving checks their first major upgrade in more than 200 years.
Versafe protects all users from all malware, threat types. On all devices, all transparently. 
WordSentry software analyzes messages during composition, identifying non-compliant components, for correction before sending.
Yodlee is the platform for financial innovation, powering the world’s largest collection of transactional data.
Yseop creates a new age where financial services delivered to customers are driven by AI and human collaboration.
Zenmonics is a global technology services and mobile product provider to the financial services market.
Zighra empowers banks and financial institutions to leverage implicit mobile user authentication and accelerate payments.
Zooz provides complete payment essentials at your fingertips: a robust set of tools that will improve the payment process.
Plus more stealth companies to be announced in the weeks to come.
To find out more about the upcoming FinovateFall 2013 event in New York, September 10 and 11, visit our FinovateFall information page here.