Israel and Croatia team up to boost FinTech innovation

FinTech entrepreneurs in Croatia and Israel may soon work closer together as the two countries have signed an agreement to encourage innovation in the sector.

The Capital Markets, Insurance and Savings Authority of Israel and the Israel Security Authority have inked a deal with the Croatian Financial Services Supervisor Agency to bolster FinTech innovation in the two countries by offering support and sharing information.

Anat Guetta, chairwoman at Israel Security Authority, said, “Technological developments are changing the world order in many areas. These technologies mainly make the public’s access to many sectors more efficient and reduce users’ costs. This is the direction in which I am leading the Israeli capital market. Israeli investors deserve the most advanced financial services in the world, and this is certainly true in the case of technologies that are developed locally.

“Promoting technological innovation is ones of the ISA’s strategic goals for the coming years. We are constantly studying how to adjust regulation in order to remove barriers for entrepreneurs seeking to create technology-based financial services for investors. Last year we signed a number of significant MOUs and joined the Global Financial Innovation Network (GFIN). These MOUs reflect significant confidence in the Israeli regulation, and establish high standards that also facilitate Israeli FinTech companies’ access to new markets.”

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