Netta Cohen, BGN Technologies CEO (left), and Matan Parnes, PayPal's General Manager in Israel.
(photo credit: DANI MACHLIS/BGU)
Ben-Gurion University of the Negev and global giant PayPal announced a partnership on Wednesday to conduct joint research and development in the fields of big data, machine learning and cybersecurity.
It is the first such collaboration between PayPal and an Israeli university.
“This partnership will allow PayPal to leverage BGU’s topnotch researchers and years of groundbreaking research,” said 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 cybersecurity, 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,” he said.
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.
In 2015, PayPal acquired CyActive, resulting in the establishment of a global security products center in Beersheba’s Advanced Technologies Park, adjacent to BGU.
“Beersheba has become a global cybersecurity hub in recent years, attracting major multinational corporations,” said Netta Cohen, CEO of BGN Technologies, BGU’s Technology Transfer Company. “PayPal’s presence there allows it to tap into this ecosystem’s cutting- edge technology and top talent.”
Earlier this year, the Council for Higher Education announced in its multiyear plan that it would allocate some NIS 2 billion toward research infrastructure to establish Israeli universities as leaders in big data.
The agreement further strengthens and extends the ongoing relationship between PayPal and BGU, which already cooperate in training, talent development and recruitment.
“BGU is a recognized global leader in cybersecurity, 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,” said Prof. Dan Blumberg, BGU vice president and dean for research and development.