Fintech, one of Israel fastest growing Hi-tech sectors Fintechencompasses a range of economic business-to-business (B2B) and business-to-customer (B2C) activities, including payments, money transfers, credit card charges, check scanning, ecommerce and digital consulting, customer relations management, and app trading services. Serving originally financial institutions, recent technological changes in global IT markets are pushing the fintech industry to seek solutions, that include virtual banks, currencies and NBFI (non-bank financial institutions). Israeli fintech companies, including large 430 enterprises as well as hundreds of local startups 14 Multinational fintechR&D centers in Israel $369 million raised capital by 61 fintech Israeli companies in 2014. During the first three quarters of 2015, about 43 Israeli companies are reported to have raised capital. Israel has an established legacy of fintech companies Israeli fintech covers all aspects of the growing that have become leaders in their respective fields demand for better payments systems and security (Actimize: fraud prevention, FundTech: transaction solutions. banking solutions, Retalix: Point-of-Sale, Trusteer: cybercrime prevention, and Sapiens: Insurance) Major international banks (e.g., Citibank, Barclays) and Israeli financial institutions have always been open to leading players in the financial market (SunGard, innovation. PayPal, Intuit, RSA) establish their presence in Israel, building up fintech innovation labs and startup accelerators. 14