Isarel's Bank Leumi Develops Financial Innovation Hub

Bank Leumi of Israel announced its new partnership with investment vehicle, Elevator, to introduce a financial technology innovation hub, reported Finextra. The two companies plan to launch the six-month program, which will provide a foundation for financial technology start-ups in Israel, by September of this year.

Leumi will include housing at Elevator's Tel Aviv offices, the ability to tap into the company's technology infrastructure and beta site, and it will also allow startups to progress and observe their products within the bank's systems. Participating firms will be provided with guidance from exerts from Leumi's business and IT development departments.

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