CTech Mind The Tech London Eyal Efrat

How is Bank Leumi approaching innovation in the fintech space?

Eyal Efrat, First Executive Vice President at Bank Leumi and Board member at The Garage, joined CTech to share some of the ways the bank is embracing innovation.

“Bank Leumi's whole approach to innovation is going through a number of channels,” explained Eyal Efrat, First Executive Vice President at Bank Leumi. “One of them is Leumi Partners, our investment arm which invests in technology. The other one is The Garage VC and venture builder.”
Efrat is a Board member at The Garage, a VC that invests in early-stage and Seed startups in the fields of fintech, AI, and Cyber. “This is a whole spectrum of how Bank Leumi really tackles innovation,” he continued. “The unique proposal that The Garage brings that other VCs don’t have is the connection that it has to Bank Leumi as an investor… which allows fintech [companies] to really go into the bank’s ecosystem and connect to the bank and see how it really is to work in such a complex technological environment using the bank's infrastructure and data capabilities.”
You can learn more about the bank and its innovation arms in the video above.