Top fintech right here in Israel, says MasterCard
Sep. 21, 2014
When it comes to picking winners, IATI, MasterCard and Citi have a good track record — and that bodes well for Pricence, the winner of the third annual MasterCard Israel Technology Award. Now $25,000 richer, Pricence will get a coveted spot in Citi’s Israel financial technology accelerator, and have the opportunity to present its technology to top European investors at the MasterCard/Citi Accelerators in Dublin, Ireland.
One of IATI/MasterCard/Citi’s previous Award choices — KitLocate, which developed a technology to use all data on a cellphone for contextual location-based services — has had a successful exit, snapped up by international search engine company Yandex. The 2013 winner of the second edition of the now-annual contest, CallVU, is still enrolled in the Citi fintech (financial technology) accelerator and is putting the finishing touches on advanced versions of its call center technology that integrates text and images with voice calls, greatly reducing time, cost, and frustration associated with help desk calls.
Pricence, which uses big data analysis to set prices for on-line retailers — automatically raising or lowering prices to maximize revenue, based on traffic, historical data, consumer behavior, and other factors — is the kind of company MasterCard is looking for in Israel, said Andras Hemberger, Israel and EMEA country manager for the company.
“There were 54 companies enrolled in this year’s contest, all of them specifically in the fintech sector,” he told The Times of Israel during the finals of this year’s Award event in Tel Aviv. “In many countries you would have a hard time getting together 54 start-ups of any kind, much less fintech start-ups.”
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