The development of banks depends, between other points, of how efficient they are in to deal with the balance that pends between data protection and the need of research sensitive customer’s personal data. How the fintechs are developing KYC tools that are also caring about data privacy?
This week’s spotlights were all shining towards the UK fintech scene, and we’re happy to say that the Belgian ecosystem shared the limelight.
On wednesday, the governor of the Bank of England, Mark Carney, noted that the fintech sector, which represents about £7 Billion and 60,000 jobs for the UK alone, needed to be recognized as a driving force of economical growth for the region. The comment was made during the Treasury’s first fintech-oriented conference, which piggy-backed on the Global Summit organized for the second time by Innovate Finance, taking place on Monday and Tuesday.
B-Hive announced its partnership to Innovate Finance beginning of January, and has been growing its ties to the FinTech Hub for quite some time now, which is why, naturally, the Belgian ecosystem chose to take part in the summit. Beyond exhibiting at the summit and having a seat in the judge panel of the #Pitch360 contest, B-Hive was delighted to welcome some of its start-up members to the summit as well. Furthermore, two of our members, Guardsquare and Juru, had been selected to partake in the finals of the #Pitch360 contest taking place on the second day of the summit, thus belonging in the top 24 of all submissions.
This brings us to the three pieces of news we couldn’t wait to share with you all:
1) Belgian cybersecurity company, and B-Hive member, Guardsquare, was declared overall winner of the #Pitch360 contest of the Innovate Finance Global Summit and Belgian blockchain company, and also B-Hive member, Juru, was declared track winner of the blockchain track at the contest.
We are really proud of the recognition attributed to these well-deserving companies, proving to the world that beyond great beer and amazing chocolate, Belgium now counts an additional export product: qualitative startups and impactful technology. We consider this acknowledgment, together with news like the decision made by the reinsurer Lloyd’s to move its European hub to Brussels, as early but lasting signs of Brussels and Belgium being able to better position itself as a next generation financial hub. At B-Hive, we look forward to keep on contributing to this ascendance, and play the role we were created to play.
2) Building further on this point, we are extremely excited to announce the establishment of our permanent representation in London.
As no ecosystem or community can suffice on its own and thrives on further, beyond-borders, connections, an international expansion of B-Hive can only be seen as a logical next step. Speaking of next steps, we have planned to open offices in the following cities in the months to come: Tel Aviv, New York City and Singapore, and we’re looking forward to tell you more about it. But first things first, if you’d like to get in touch with our London office, don’t hesitate to get in touch with Thomas, or come by for some free beer (everyday from 2PM onwards, yes, we choose our offices wisely) at the WeWork in Moorgate.
3) “But how do they do it?”, we see you wondering already. Well, it’s quite simple, it’s all thanks to the incredible support provided by our shareholders and partners, which brings us to our third piece of news. We are happy to announce B-Hive has finalized a capital round of €5 Mio, provided by 13 major financial players and the Belgian Government.
We couldn’t be prouder to welcome AXA, BNP Paribas Fortis, ING, KBC, Belfius, Euroclear, SWIFT, AG Insurance, Baloise Insurance, Allianz, Isabel, BNY Mellon, Mastercard and the Belgian Government (by means of the federal investment fund) on board. B-Hive will continue to benefit from the support of existing partners, such as Cresco Law, Ingenico, McKinsey&Company, Proximus and Time.lex. You can find our full press release right here.
So, it really was quite the week, and we look forward to the times to come, and are excited to keep on growing this flourishing community with your help.
What’s the lesson for private banking today?
Part I - Fintech is about more than convenience
Part II - And why that’s essential for Millennials
In a world of interconnected objects, insurance won’t be “social” as stated by the so called P2P innovators but rather parametric and invisible.
We would like to invite you to participate in the Step Up! Program, organized by Microsoft Innovation Center Brussels. This is a great opportunity to develop your tech startup!
Can your solution enrich the proximity shopping experience of merchants or shoppers?
How can a financial institution create a high level of intimacy and attract the customer’s attention? How can you create values that relate to the clients?
We would like to announce that Time.Lex will be present at our B-Hive HUB on the 18th of April, from 16:00 to 18:00, to give you legal advice regarding the topics bellow:
This blog is a reaction on “Is insurance ready for Millennials”, which you can read over here. Summarized: insurance is old-fashioned, lives in the past and tries to pummel you silly with paperwork… especially when filing a claim. Luckily InsurTech is here to save the day.
Putting in place a startup needs of course an idea, an innovative and digital project. Be it a financial one or not. After you will certainly want to create your website to introduce your idea to the world. If your idea is a product, it will be via an online sales-flow. At that moment you will certainly ask yourself : how can I do it ? and linked to that question: what can I legally do?
With the General Data Protection Regulation (GDPR) applying from May 2018 onwards, many undertakings have come to realize that they must start their own readiness assessment and compliance exercise. Indeed, for undertakings doing business in Europe, it is crucial to align business operations with the GPDR (...).
The growing industry of Fintech is on its way to leave a lasting and substantial mark on the economy and society as we know it. From buying clothes and your Christmas’ gifts online to transferring money to that one friend you owe a beer to, consumers have been enjoying the benefits of Fintech on a daily basis, perhaps without even knowing it.
The Fintech Safary in Berlin is taking place next week and B-hive's here to help you navigate the city's Fintech scene. Lass uns gehen!
Sharing success stories is a great way to inspire more people to pursue their dreams. With this in mind, during this international women's day, we wanted to share with you five interesting reads and videos of women impacting our sector. Enjoy the read!
1. The GDPR’s information governance requirements
2. The need to adapt existing privacy policies and notices to the GDPR
3. The obligation to maintain a register of processing activities
It is with absolute honor that we announce B-HIVE's presence at the Money2020 fair in Europe on 26-28 June 2017 in Copenhagen, Denmark.
Would you like to learn about how our fintech colleagues are working and creating new ideas around the world? Here we present you interesting Israeli facts picked up by hand.
Startups.be will be handing out awards to startups that had a remarkable track record last year. We are very happy to see three of our amazing B-Hive members among the nominees! Voting is open until March 6 at noon!
Recently, our attention was drawn by an article written by Oscar Williams-Grut for Business Insider magazine. "4 VCs were asked what the hottest area of fintech is right now — all they could talk about was insurance."* To dig a little deeper in the buzz around insurance, we invited Rudi Strobbe, responsible for innovation at the “Customer & Data” department of AXA Belgium, for an interview.