Call for applications for a pilot program with Israel Securities Authority

Participating Agencies

Summary

The Innovation Authority and the ISA invites you to submit applications for a pilot  in Israel and abroad. Assistance will include access to public MAGNA (Electronic Public Disclosure System) reports’ database of the ISA and to the Tel Aviv Stock Exchange trading database (hereinafter: “The TASE”). 

Relevant Technologies

Fintech

Program Description

The program will also include professional guidance from the ISA’s staff, as well as financial support. Submission through Benefit Track # 2 (sub track 11). Likewise, we invite you, financial or supervised entities who would like to be approached as potential pilot sites for the Fintech companies, to contact us and examine if your project is fit for the program or to register as a potential pilot site.

Criteria

This call is for Israeli technology companies who would like to perform a pilot in the Fintech industry. The demonstration sites will be established and operated at the offices of the ISA, at the financial or supervised entity’s offices or at the Fintech company’s offices.

Preconditions:

• The filer must be an Israeli company.
• The filer must correspond with the reporting duties, registration duties, royalties duties, preservation of knowledge and intellectual property duties, under the Innovation law, benefit Track # 2 and the procedure’s rules.
   

Preferred Challenges:

1. Examining the benefits attributed to new and advanced technologies, including DLT, for the development of capital markets, and in particular in the context of developing trading platforms and stock exchange infrastructure.
2. Tools for analysis of structured and unstructured corporate reports, aimed at generating insights and anomaly detection. In particular text mining, NLP and data extraction from unstructured reports in Hebrew.
3. Using innovative tools to rate mutual funds based on a broader range of quantitative and qualitative parameters in a way that will increase the ability to choose funds.
4. Improving the Know Your Client process in a way that can assist in the choice of suitable investments, thus encouraging the use of digital investment advice and portfolio management services with the aim of making the services more accessible to lower income retail clients.
5. Tools for examine the effectiveness and efficiency of the ISA’s supervision activities, and for improving its supervision and regulation.
6. Promoting financial inclusion to innovative services and products through Open Banking interfaces (financial APIs).  

Please Note: you can submit an application for other topics which are not mentioned above as long as they are relevant and advance the ISA’s strategy and role.

Funding

• Financial support of 20%-50% from an approved budget.
• Exceptional financial support of 60% from an approved budget for a pilot with an unusual potential influence on the efficiency and improvement of the capital market or financial services sectors in Israel.

Application Process

The application process is made thorough the personal area on the innovation authority Hebrew website.
You can find information in Hebrew regarding the application process and the files you need to attach to the application is in the this link. 

Deadline to submit an application is April 08, 2021 at 12:00 a.m.
Answers will be provided by June, 2021.