As Asia increasingly looks to implement financial technology, Israeli companies in the sector are enjoying growing demand in the region.
Hong Kong, a major global banking hub, is among the cities strengthening defenses against money-laundering and terrorist financing, which is bringing opportunities for technology companies. Israel, meanwhile, has developed a dynamic financial technology (fintech) sector, boasting more than 500 such companies, according to a government brochure available at its stand at last week's Hong Kong FinTech Week conference.
AU10TIX is one such Israeli company, specializing in high-speed forensic authentication, which can be used, for instance, when a customer opens a financial account and submits identification documents online.
"Asia woke up something like a year and a half ago," Ofer Friedman, AU10TIX vice president for marketing, said of increasing openness to such technology in markets like Japan, Singapore and Hong Kong. "Obviously, the opportunities are where governments let fintech flourish."