Ben-Gurion University of the Negev (BGU) and PayPal announced a new partnership this morning in order to conduct joint research and development in the fields of big data, machine learning and cyber security. It is the first such collaboration between PayPal and an Israeli university.
"This partnership will allow PayPal to leverage BGU’s top-notch researchers and years of groundbreaking research", stated Matan Parnes, PayPal's General Manager in Israel. "The collaboration with BGU will further strengthen PayPal’s global leadership in the use of machine learning and big data for cyber security, fraud detection and risk management, allowing us to continue to offer the most cutting-edge technologies that enable safe payments to more than 192 million customers worldwide" added Parnes.
Prof. Dan Blumberg, BGU VP & Dean for R&D remarked, “We are eager to extend our relationship with PayPal and help them safeguard the privacy of their hundreds of millions of clients. BGU is a recognized global leader in cyber security, big data and machine learning research and we look forward to putting that expertise to work to meet the unique challenges posed by PayPal’s needs.”
PayPal’s involvement in big-data and machine learning technology has been supported by its significant R&D activity in Israel, starting with the acquisition of Fraud Sciences in 2008 and the establishment of a global risk and data sciences R&D center in Tel-Aviv. Over the last eight years, this center has delivered cutting-edge technologies in the fields of fraud detection, data sciences, and big data. PayPal’s acquisition of CyActive in 2015, which blossomed at JVP and BGU’s incubator, was another major step in this journey, resulting in the establishment of a global security products center in Beer-Sheva's Advanced Technologies Park, adjacent to BGU.
"Beer-Sheva has become a global cybersecurity hub in recent years, attracting major multi-national corporations", explained Netta Cohen, CEO of BGN Technologies, "PayPal’s presence there allows it to tap into this eco-system’s cutting-edge technology and top talent."
The new agreement further strengthens and extends the ongoing relationship between PayPal and BGU who already co-operate in training, talent development and recruitment.
Netta Cohen, BGN Technologies CEO (left), and Matan Parnes, PayPal's General Manager in Israel, sign the agreement at the Nextech Conference at the Gav Yam Negev Advanced Technologies Park in Beer-Sheva