Tel Aviv is quickly becoming the top financial services hub in Israel. Home to a fast-rising startup scene and perhaps the world’s leading venture capital industry, Tel Aviv is an attractive city for all sorts of companies looking to develop innovative financial products. Notably, banks like Bank Hapoalim and Leumi are some of the biggest players in Tel Aviv’s lucrative financial services sector.
In addition to traditional banking services, Tel Aviv is buzzing with activity in the fintech sphere. With a wide variety of providers, ranging from online asset managers to peer-to-peer lenders, customers have an impressive array of options when it comes to utilizing digital finance tools. Overall, by bolstering its tech infrastructure and regulatory environment, as well as facilitating access for non-residents like tourists or expats wanting to open bank accounts abroad—Tel Aviv has created a highly competitive relationship between incumbents and startups that continues to push innovation forward within financial services.
Bearing this in mind, many companies have jumped onto the “Israel Tech Opportunity” bandwagon by choosing Tel Aviv as their base for operations—notably insurance firms such as Phoenix Holdings Ltd., asset management businesses including Meitav Dash Investment House Ltd., and consulting needs provided by Renaissance Capital Investment Advisory (2005) Ltd.
On top of new business opportunities with innovative technology solutions being developed each day, Tel Aviv offers competitive wages compared with other big cities across Europe or Asia—making it even more attractive on a fiscal level when shipping products internationally.