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Finovate Global Israel: Identity Verification, Data Privacy, and an Introduction to New Alums

Finovate Global Israel: Identity Verification, Data Privacy, and an Introduction to New Alums

This week’s edition of Finovate Global reviews the latest fintech headlines from Israel. We also introduce you to a quartet of new Finovate alums – all making their Finovate debuts at FinovateEurope last month – all headquartered in Israel.

AU10TIX expands its Digital ID identity verification solution

Israel-based identity verification and management specialist AU10TIX announced the expansion of its Digital ID solution this week. AU10TIX’s technology enables businesses to quickly, accurately, and securely verify a wide variety of types of identification, including physical, digital, eID, verifiable credentials, and more.

Serving as a verification hub for businesses, AU10TIX’s Digital ID solution enables faster and more accurate identity verification. The solution also boosts completion rates, enhances the customer experience, and promotes revenue growth. The company’s technology validates cryptographic signatures to verify digital IDs and cross-checks personal identifiable information (PII) as displayed on the applicant’s ID versus information in government databases. Additional services such as facial and data comparison help reduce the risk of false positives.

Altogether, AU10TIX’s solution provides:

  • Global coverage to validate digital signatures worldwide
  • Digital ID Verification Hub that enables management of all verification processes on one platform, creation of customizable workflows, and rules for streamlined operations
  • Automated verification processes to streamline onboarding by reducing manual processes and enhancing efficiency
  • Data discrepancy analysis to identify potentially fraudulent activities and enhance security measures
  • Continuous regulatory compliance assurance to help businesses stay ahead of emerging and evolving regulations
  • Scalable infrastructure to accommodate businesses from startups to enterprises

“Our Digital ID solution empowers businesses to embrace the global shift to digital identity with confidence,” AU10TIX CEO Dan Yerushalmi said,. “It combines unparalleled accuracy and global reach with robust security measures to streamline onboarding and minimize fraud risk, all while addressing the diverse array of global ID formats.”

Founded in 2005, AU10TIX is headquartered in Hod Hasharon, Israel. Earlier this month, the company released its Q4 Global Identity Fraud Report. The report revealed an “eight-month-long coordinated identity fraud ‘mega attack’ consisting of organized criminals executing more than 22,000 separate fraudulent onboarding efforts using AI-generated variations on a single passport. In February, the AU10TIX announced a series of major, C-suite appointments including Hanna Schindler as Chief Revenue Officer (CRO), Erez Herschkovitz as Chief Financial Officer (CFO), and Amazia Keidar as Chief Marketing Officer (CMO).

Data privacy company Mine launches governance solution

Israel-based data privacy innovator Mine unveiled its new AI governance solution this week. The new offering, MineOS AI Asset Discovery, gives firms full visibility and control over enterprise AI systems and data. At a time when more institutions are leveraging AI to incorporate data from a widening variety of sources, solutions like MineOS give teams 360-degree visibility into how AI is retaining and sharing that data. This helps institutions build data policies that are effective as well as compliant with regulations governing AI usage.

“We’ve seen a rapid proliferation of AI technologies and corresponding AI regulations, but a precise and actionable blueprint for how companies can effectively govern AI and comply with regulations has yet to hit the market,” Mine CEO and co-founder Gal Ringel said. “MineOS AI Asset Discovery and Risk Assessment will bridge the gap between the practical and theoretical sides of AI and data governance as companies navigate the complex new business landscape.”

Headquartered in Tel Aviv, and founded in 2019, Mine powers the privacy programs of more than 2,000+ companies worldwide. More than 500 SaaS platforms have integrated to MineOS’ no-code API. Late last year, Mine announced completion of a $30 million Series B funding round led by Battery Ventures and PayPal Ventures. The investment takes the company’s total capital raised to $42.5 million.

Israeli alums represent at FinovateEurope

FinovateEurope 2024 may have featured more demoing companies from the nation of Israel than any other previous Finovate conference. This is an impressive showing, given the challenges of Israel fintech in 2023 and the toll of the country’s current war against Hamas. Here’s a look at our new alums:

CitrusX – Headquartered in Tel Aviv, Israel, CitrusX offers an end-to-end platform for AI transparency and explainability that is trusted by publicly listed companies in regulated industries. Founded in 2021, Noa Srebrnik is co-founder and CEO. Video.

FRNZX – Tel Aviv, Israel-based FRNZX was founded by experts in cryptocurrencies, AML, and intelligence to empower AML compliance in the cryptocurrency sector. At its Finovate debut in February, the company demoed its holistic crypto AML navigator which simplifies the integration of crypto transactions into the AML frameworks of banks. FRNZX was founded in January 2022. Co-founder Nevo Lapidot is CEO. Video.

Corsound AI – Founded in 2022, Corsound AI has earned more than 200 patents for its voice intelligence solutions. The startup has innovated in voice deepfake detection and considers itself the only company that successfully correlates face and voice. In fact, at its Best of Show winning debut at FinovateEurope this year, Corsound AI demonstrated the ability to reconstruct a face image from a short audio sample without relying on a database. Gal Haselkorn is CEO of the Tel Aviv-based company. Video.

Intrepid Fox – Headquartered in Tel Aviv, Israel, Intrepid Fox is on a mission to enhance KYC for businesses. The company leverages customized Generative AI technology to help bank KYC processes work 10x more effectively. Intrepid Fox’s technology reads and understands documents, recognizes and extracts key data points for analysis, clarifies missing or incomplete information, and consults with the customer on any document requirements. The company’s solution can reduce onboarding costs by 50% and save a week of onboarding time per customer. Roman Zilber founded Intrepid Fox in 2023. Video.

Here is our look at fintech innovation around the world.

Middle East and Northern Africa

Central and Southern Asia

  • The Competition Commission of Pakistan (CCP) approved Advans Pakistan Microfinance Bank’s acquisition by Egyptian fintech MNT-Halan.
  • The Nepal Clearing House (NCHL) partnered with ACI Worldwide to power its National Payment Switch (NPS) system.
  • The State Bank of India (SBI) inked a six-year agreement with Aurionpro for its iCashpro+ transaction banking platform.

Latin America and the Caribbean

  • Contxto looked at the way fintechs in Mexico are navigating the volatility of the country’s monetary policy.
  • Brazilian fintech Delend, which offers open finance solutions from SMEs, raised $20 million (100 million reais).
  • Kuadra, a Colombian fintech that leverages AI to help small businesses access microcredits and growth solutions, expanded into Ecuador.


  • Australian digital wallet provider and payments company Stables introduced international remittances, initially focusing on its customers in the Australia-Philippines corridor.
  • The Philippines Central Bank, Bangko Sentral ng Pilipinas (BSP), issued new payment system regulations.
  • Australia-based spend management platform Weel forged a strategic partnership with real-time, cross-border payments company Nium.

Sub-Saharan Africa

  • Nigerian blockchain network Zone secured $8.5 million in seed funding.
  • Tech in Africa looked at the role of South Africa’s fintech industry in driving growth in the sector continent-wide.
  • Global cross-border payments and remittances company PayAngel selected Kenya for expansion, calling the country “the gateway to East Africa.”

Central and Eastern Europe

  • Bulgarian embedded finance company Paynetics has acquired U.K.-based neobank Novus.
  • A partnership between Riverty and Adyen will give Adyen customers in the DACH region a new, 14-day invoice payment solution.
  • Germany fintech NX Technologies raised $24 million in Series B funding in a round led by PayPal Ventures.

Photo by Haley Black