Mind the Tech NY
"Cyber expertise is not an add-on - it's a necessity."
Nir Omer, CIO of Bank Leumi, speaking at Calcalist and Leumi’s New York Mind the Tech conference: "Innovation in AI will be measured not only by capabilities, but also by successfully implementing them in a secure and responsible manner"
Nir Omer
(Alex Kolomoisky )
"Innovation in AI will be measured not only by capabilities, but also by the success of implementing them in a secure and responsible manner," said Nir Omer, CIO of Bank Leumi, today (Monday) at Calcalist and Leumi’s Mind the Tech New York 2026 conference.
In his opening remarks, Omer recounted a significant event that occurred in the financial world shortly after October 7. "A surge in fraud and phishing attempts was detected throughout the financial system," he said. "Fortunately, we anticipated that such scenarios would quickly become a routine risk, and therefore we were already prepared for it in advance. One of the solutions we initiated was to team up with an Israeli startup and develop an AI model to identify such fraud attempts in real time. The result: a threat that could have become significant for the bank became a managed event.
“Phishing is just one example. The real story is about trust. Our customers expect more than professional excellence; they expect trust. They expect us to take innovative steps to protect their money and privacy. And that’s what we do, through a combination of technological advancement, AI, and cybersecurity. In the financial world, technological innovation is not an end in itself. Customers expect trust, protection, and security first and foremost. Banking is built on trust – and to maintain it, decisive decisions are needed that combine technology with responsibility.
"AI and cyber are sometimes seen as two separate worlds. In reality, they are two sides of the same coin. The ability to connect them correctly is the main challenge for companies, especially financial organizations. It is the key not only to growth, but also to maintaining customer trust over time. We are in the midst of a global technology race. Tech giants are investing huge sums in AI infrastructure, but they are not the only ones. Financial institutions are also adopting advanced technologies at an increasing pace. Today's banks are also tech companies: AI permeates almost every aspect of banking – from the customer experience, through decision-making, process automation, to risk management and internal controls.
"Leading banks are using AI to personalize products for customers, detect fraud, and comply with regulations. At Bank Leumi, we are implementing a broad AI strategy, understanding that the potential is huge – but it is also important to understand the risks. The first risk is a phenomenon known as Shadow AI. The need to use artificial intelligence can create a reality in which employees and teams use AI tools without organizational control and without a sufficient security system.
The second risk is securing customer data. AI systems are, at their core, data systems. The more powerful the model- the more data it consumes - and in banking, that data is among the most sensitive that exists. As we integrate AI deeper into our operations, we must be very careful about where customer data flows, how it is protected, and who has access to it. A single breach can break the trust that everything we do depends on.
The third risk is operational continuity.
Implementing AI at scale requires touching core systems. And these cannot afford to fail, leak, or behave unpredictably. Even the integration process itself carries risk, and so maintaining secure, stable operational continuity is not a constraint on innovation - it is a precondition for it.
These three risks are the reason we at Leumi have one strict rule: every AI capability we implement must be secure by design – This is a must in order to make innovation sustainable.
And here lies a distinct advantage of Israeli innovation - particularly in cybersecurity.
As a former Chief of a cybersecurity unit in the IDF, I'm fortunate to mentor many of our reserve soldiers during their startup ideation process. And I can tell you first hand - Israeli entrepreneurs possess a unique ability to combine innovation and growth with resilience, defense, and risk management. I recently met with a couple of them - they had a great idea, but more than that, I could see the spark in their eyes, and the level of confidence they had, right at the very first steps of their journey.
"The bottom line is that innovation in AI will not be measured solely by the technological capabilities it provides – but by the ability of organizations to implement it responsibly, securely, and sustainably. And in an era where trust is the most precious resource, cyber expertise is not an add-on – it is a necessity."
Watch his full remarks in the video above.
