“When digital transformation is done right, it’s like a caterpillar turning into a butterfly, but when done wrong, all you have is a really fast caterpillar.” The complex nature of digitalization, cleverly summed up by the renowned MIT Professor George Westerman, is even more intricate for the financial services sectors. Outdated legacy systems are a huge Achilles’ heel in their journey into the digital world.
Automation and digitalization in the financial industry is the focus area for this edition of Doing Business in Israel. We spoke with the CEO of OpenLegacy, an Israeli startup that enables financial companies to launch exciting new digital services super-fast, without having to change their core systems.
Since winter is at its height here, our Israeli Innovation section features a local winter delight - the famous Jaffa mandarin. It is now taking North America by storm after being scientifically developed to perfection. This edition also introduces major acquisitions of Israeli companies by global powerhouses like Amazon and Symantec, and we sign-off with a cultural recommendation tailored to the design aficionados amongst you.
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