JERUSALEM, Nov. 18 (Xinhua) -- Israel on Thursday launched an innovation laboratory that will deal with cyber defense for fintech technologies such as digital banking, the Israel National Cyber Directorate (INCD) said.
The new FinSec lab was established in the hi-tech park in the southern city of Beer Sheva by the INCD, the Israel Innovation Authority and the Israeli Finance Ministry, in collaboration with the U.S.-based payment technology company Mastercard and the Italian energy transformation company Enel-X.
The lab's facilities simulate financial systems and supporting information, which, accompanied by the INCD, will enable the examination of new technologies.
The INCD noted that it will contribute the lab's projects the knowledge accumulated from cyber incidents in Israel and worldwide.
The lab will also make information and attack scenarios accessible for developing protection solutions to evolving threats resulting from accelerated digitization of financial systems. Enditem