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by Reuters and Algemeiner Staff
The Tel Aviv skyline at night. Photo: Gilad Avidan via Wikimedia Commons.
Israeli cyber group Team8 said on Tuesday it had hired former Bank Leumi chief executive Rakefet Russak-Aminoach to lead a new division that aims to develop financial technology companies.
Team8 Fintech aims to supply both businesses and consumers with new technologies “to ensure they stay relevant and gain a competitive advantage,” Team8 said.
It said it would also seek to create technology that will enable certain non-financial companies to become new fintech providers.
Team8, which has traditionally invested in cyber security companies, is a venture group backed with strategic funding from Microsoft, Walmart, Barclays and Moody’s.
Russak-Aminoach last October stepped down as CEO of Leumi, Israel‘s second-largest lender, after seven years in the post.
