Tamar Yassur, FEVP and CDO, Bank Leumi

Bank Leumi of Israel, Canadian Imperial Bank of Commerce (CIBC) and National Australia Bank (NAB) have collaborated to form the Global Alliance Fintech Link, a global portal focused on driving client-focused innovation through collaboration between the banks and fintechs.

“This partnership shows that Bank Leumi, National Australia Bank and CIBC are leaders not just in thought but also in action when it comes to seeding international efforts to spur better value propositions,” said Tamar Yassur, FEVP and Chief Digital Officer, Bank Leumi. “We’re confident this new platform will help spark international innovation and creativity to enhance customer services in banking across the globe.”

Global Alliance Fintech Link allows for easy access to the global banking marketplace through direct collaboration with the three FIs. Through the platform, fintechs will be able to submit technology solutions to the opportunities identified by the banks. The initiative also aims at offering fintech access to partners and enhance business scalability.

“Transformative innovation is key to meeting the ever-evolving needs of clients, and this new platform gives us the opportunity to identify new and emerging technologies that will drive solutions as we build a relationship focused bank for a modern world,” said Greg Elcich, VP Enterprise Innovation & Wealth Digital at CIBC. “We’re delighted to partner with National Australia Bank and Bank Leumi on this portal to help stimulate further creativity and growth in the global fintech industry.”

“In big and complex banks like NAB, CIBC and Bank Leumi, it can be a challenge for fintechs with good ideas to find the right path to the right people, where their concepts can be appropriately considered,” said Jonathan Davey, EGM Digital and Innovation, National Australia Bank. “This new platform provides a simple and easy process for fintechs to help connect them into the bank where we can connect that idea to the right people who may be interested in what they have to offer and how we might be able to work together, no matter where they are based.”

The Global Alliance Fintech Link platform has been launched as a pilot and will adapt according to the addition of challenges on the site.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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