Israeli cyber group Team8 said on Tuesday former Bank Leumi chief executive Rakefet Russak-Aminoach had joined the company as a partner to lead a new division that aims to develop financial technology companies.
Team8 Fintech aims to supply both businesses and consumers with new technologies "to ensure they stay relevant and gain a competitive advantage," Team8 said.
It said it would also seek to create technology that will enable certain non-financial companies to become new fintech providers.
"I see great opportunities in leveraging new technologies to completely reinvent financial services (and) drive efficiency," said Russak-Aminoach, a founder of Team8 Fintech.
Team8, which has traditionally invested in cyber security companies but has expanded into fintech and other technologies, is a venture group backed with strategic funding from Microsoft, Walmart, Barclays and Moody’s.
Russak-Aminoach last October stepped down as CEO of Leumi, Israel's second-largest lender, after seven years in the post.
(Reporting by Steven Scheer; Editing by Tova Cohen)
