December 7, 2017 | Israeli cybersecurity think tank Team8, founded by veterans of the elite IDF intelligence unit 8200, has teamed up with leading Canadian multinational bank Scotiabank to “foster cybersecurity innovation,” the companies announced this week. The two plan to “exchange knowledge, insights, and methodologies,” they said in a press release. A bank executive will sit on Team8’s advisory board alongside executives and security officers of other global financial institutions. Scotiabank’s Chief Technology Officer Michael Zerbs said the bank was “looking forward to our partnership with Team8 to deepen our technology capabilities and know-how, which are foundational to Scotiabank’s digital transformation. He added that the “partnership will increase our access to Israel’s world-class cybersecurity and fraud prevention ecosystem.” Team8’s CEO and co-founder Nadav Zafrir says the company is “thrilled that Scotiabank will play a role in our unique company creation model to solve the big problems in cybersecurity… Their insights and experience bring incredible value to our approach.” Team8 recently announced that it was opening a new hub in New York City. The think tank and its companies, Illusive Networks, which develops deception tech to detect hacking attacks, Claroty, which provides advanced solutions to secure critical infrastructure systems, and the Sygnia, a “military-grade cyber consulting and incident response company” will all base their US operations in the hub. R&D operations for all the companies will continue to be based in Israel, Team8 said in a statement last month.