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Velocity & B-Hive partnership links Fintech hubs in pan-European collaboration

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06 March 2019 - The IA’s fintech innovation hub and accelerator, Velocity, and Brussels-based fintech ecosystem B-Hive have today signed a partnership designed to boost fintech innovation across the asset management industry by promoting pan-European collaboration. 

The partnership signed by Fabian Vandenreydt, Executive Chairman, B-Hive and Peter Harrison, Chair of the IA Board, signals a commitment to a closer relationship between the two organisations with the aim of building a strong international Fintech ecosystem.

As part of the agreement, Velocity and B-Hive will share knowledge and expertise on technology trends and work together on joint events and training, as well as tackling common innovation challenges.

 The partnership marks a key milestone in Velocity’s growing reach. From its official launch last October, Velocity has already become a leading centre of innovation for the asset management industry and wider buy-side, attracting more than 80 FinTech firms in the past six months, with five of these forming the first Velocity cohort within the accelerator program.
 

Alexander de Croo, Belgian Deputy Prime Minister and Finance Minister said: “I’m very pleased today to witness the Belgian FinTech hub B-Hive partner with the renowned accelerator Velocity. Both hubs' expertise in RegTech and WealthTech gives the European FinTech ecosystem yet another boost and strengthens the collaboration between Belgium and London based startups.”


Peter Harrison, Group Chief Executive, Schroders and Chair of the IA Board said: “I am delighted to announce this new partnership with B-Hive. Velocity has quickly established itself as the natural meeting point between cutting-edge FinTech companies and the asset management industry in the UK. The pan-European collaboration with B-Hive will open new avenues for furthering innovation, which will benefit our members and the savers and investors which our industry serves.” 

Fabian Vandenreydt, Executive Chairman, B-Hive said: "Our partnership with Velocity is a great representation of our main mission to build links between the major European fintech hubs. Velocity's expertise in the investment management innovation ecosystem space will be a valuable asset for the B-Hive community and we are thrilled to partner with them."

 

 

 

B-Hive Europe launches a Fintech Landscape Report, B-Lens, together with Roland Berger and Sirris

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BRUSSELS, BELGIUM - 22 February 2019. -- B-Hive, the collaborative innovation platform, together with Roland Berger, one of the leading global consultancy firms, and Sirris, the collective center for and by the technological industry, has published B-Lens 2.0, a fintech landscape report that takes a look at the state of financial services and fintechs in Belgium and Europe.

The survey is based on research conducted by B-Hive Europe as well as data collected by Roland Berger and Sirris. The results showed that most fintechs have focused on the banking and insurance sectors to find potential clients while the fintechs thought their key differentiators included the digitized business models, short time-to-market and convenient processes. For international expansion, France, Belgium, Germany and the UK were the most favorable destinations in Europe.

The biggest challenges discovered were talent shortages, slow customer adoptions, low collaboration rates with financial services and opportunities to grow due to the difficulty to attract customers and investors.

Financial services takeaways:

  • Mobile banking subscriptions are growing fast followed by an increase in digital transactions and online purchases

  • Consumer acceptance saw an increase in the use of digital financial services but is below neighboring Southern European countries and the UK

  • Belgium confirms its strong business enablers for digital activity, thanks to higher R&D expenditure and high concentration of ICT specialists and short time required to start a business. However, the cost of starting a new business has been increasing recently

  • Although significant efforts have been put to secure internet servers, increased investment into cybersecurity is needed to limit cases of internet banking fraud and to catch up with the average online security in the EU

Fintech takeaways:

  • Belgian Fintech sector is stabilizing in 2017 (4 Fintechs created) and the trend is confirmed in 2018 with the average deal size almost doubling but decreasing number of deals. Most common investment by funding round has shifted from Seed to Series A.

  • Significant change can be identified in the top 3 Fintech technologies with a shift from Blockchain & Data analytics to Saas, App and Artificial intelligence and a shift from marketplace and crowdfunding business models to commissioning and subscription.

Fabian Vandenreydt, Executive Chairman of B-Hive, said: “Here at B-Hive, we work to put Brussels on the map as a smart gateway to Europe and working together with Roland Berger and Sirris enables us to have a fuller view of key metrics, which will inform how we can further improve the position of Belgium in the market.”

Grégoire Tondreau, Managing Partner of Roland Berger, said: “The B-Lens 2.0 data has been compiled in a way that gives the readers a better overview of the market, and allows B-Hive to further focus on areas of innovation in the financial services and fintech industries. We are proud to have been part of this initiative from its launch last year and look forward to continuing our collaboration with B-Hive.”

Omar Mohout, Entrepreneurship Fellow of Sirris, said: “Fintech has a long history and deep roots in Belgium. But it's only recently that a real fintech ecosystem is emerging ensuring a bright future for innovation in the financial services industry in this country. It was a pleasure to take a deeper look into the topic together with B-Hive and Roland Berger, and discover what the future of fintech in Belgium looks like.”

About B-Hive Europe

B-Hive is a European collaborative innovation fintech platform that brings together major banks, insurers and market infrastructure players. Together, we work on common innovation programs and build bridges between our corporate partners and our start-up and scale-up community members. We aim to put Brussels on the map as the smart gateway to Europe and leverage on the opportunities offered by the digital transformation for the financial services industry. We believe that building bridges between important fintech hubs and the Eurozone enables both European and non-European companies to grow and expand.

More information about B-Hive can be found at www.b-hive.eu.

About Roland Berger

Roland Berger, founded in 1967, is the only leading global consultancy of German heritage and European origin. With 2,400 employees working in 36 countries, they have successful operations in all major international markets. Their 50 offices are located in the key global business hubs. Roland Berger advises major international industry and service companies as well as public institutions. Their services cover the entire range of management consulting from strategic advice to successful implementation: e.g. new leadership and business models; innovative processes and services; M&A, private equity and restructuring; and management support on large infrastructure projects.

More information about Roland Berger can be found at www.rolandberger.com

About Sirris

Sirris is the collective centre for and by the technological industry. They offer Belgian companies three key assets to help them remain innovative: years of experience and comprehensive expertise in a wide range of industries; high-tech testing infrastructure spread across the country; and an extensive network of partners. This way they help large and smaller players in Belgian industry make the right technological choices and achieve sustainable economic growth.

More information about Sirris can be found at www.sirris.be




BANCA MEDIOLANUM ADOPTS ARTIFICIAL INTELLIGENCE ALGORITHMS FOR RISK MANAGEMENT

With the introduction of IFRS9 accounting principles on Jan 1, 2018, all banks, including non-AIRB (advanced internal ratings-based) banks, have to adopt a “model validation and governance” framework for their internal risk models. Thus, the need for banks to identify and equip themselves with innovative tools to manage validation processes of the risk models used.

The US Small Business Fintech Report

Source: cbinsights.com

Source: cbinsights.com

The tech startups transforming small business payroll, lending, insurance, accounting, and more.

• About the author

CB Insights software lets you predict, discuss, and communicate emerging technology trends using data in ways that are beyond human cognition. We are a leader in the Expert Automation & Augmentation Software (EAAS) space.

imec.istart open call

The imec.istart business acceleration program supports entrepreneurs with the early development of their tech start-ups during minimum 12 months.  During this period we want to assess the feasibility of a business proof-of-concept, prepare the (commercial) launch of the first product(s) and the establishment of a start-up to drive this commercialization.

Collaborative economy and new business models’ challenges from promoting innovation and sustainable entrepreneurship to protecting consumers and workers [Recap]

Collaborative economy and new business models’ challenges  from promoting innovation and sustainable entrepreneurship to protecting consumers and workers [Recap]

On 16 October 2018, ACCA (Association of Chartered Certified Accountants), UEAPME (European Association of Craft, Small and Medium-sized Enterprises) and European Movement International organised a conference on collaborative economy and new business models’ challenges: from promoting innovation and sustainable entrepreneurship to protecting consumers and workers.

B-Hive is proud to announce its partnership with Altares - Dun & Bradstreet

The international provider of business insights, Altares Dun & Bradstreet and the collaborative European fintech platform B-Hive have announced their associate partnership. Through this partnership, Altares aims to strengthen their position as a trusted partner for the financial services industry.

Where Data Economy meets the Fintech Ecosystem

Altares will bring valuable expertise into the B-Hive FinTech Ecosystem regarding data management and analytics. Adriaan Kom – Head of Strategic Alliances:

“Our global company data enables our clients to build models and make business decisions. Our services provide reliable data and predictive analytics which is proven to be very beneficial for the financial services sector. As a trusted partner in company data and analytics, we plan to expand our network in this industry through B-Hive.”

With more than 40 partners and 170 members, B-Hive is one of the leading FinTech ecosystems in Europe. As a collaborative platform, B-Hive connects major financial institutions with innovative startups and scale-ups. Through this partnership, B-Hive adds another well-established tech company to their network. According to Fabian Vandenreydt, Executive Chairman at B-Hive, the partnership was a no brainer.

“Altares’ expertise, knowledge and values are an impressive combination that we are thrilled to have among our network. We hope to provide them with a platform that will serve, B-Hive, Altares Dun & Bradstreet and our complete ecosystem.”

First Steps as Associate Partners

As part of the partnership, Altares has supported the B-Hive FinTech Hackathon over the past few weeks. At the two-day Hackathon, participants were looking for well-thought business solutions for existing challenges that the financial- and insurance sectors are facing. By winning the Hackathon, participants could win a Proof of Concept. Not only has Altares provided data for the Hackathon, but their experts also participated as mentors and jury members. The Hackathon was organized in Brussels, Belgium on September 24-25.

In the future, Altares and B-Hive hope to join forces in similar events while also working on new projects. Niek De Taeye, Chief Operating Officer at B-Hive, has high hopes for their newly found partnership.

“Altares is a perfect addition to the B-Hive ecosystem. An established value as part of the Dun & Bradstreet group, yet the drive and ambitions of an innovative young company. Apart from the enormous richness of their current databases, Altares is a pioneer and is looking for innovative ways for this data to be of service to their clients. We aim to help them along in defining new and exciting uses for their data by connecting them to the right start-ups and scale-ups and also expand their customers within the financial services industry.”

About B-Hive:

B-Hive is a European collaborative innovation fintech platform that brings together major banks, insurers and market infrastructure players. Together, we work on common innovation programs and build bridges between our corporate partners and our start-up and scale-up community members. We aim to put Brussels on the map as the smart gateway to Europe and leverage on the opportunities offered by the digital transformation for the financial services industry. We believe that building bridges between important fintech hubs and the Eurozone enables both European and non-European companies to grow and expand.

Website: www.b-hive.eu

About Altares Dun & Bradstreet:

Altares Dun & Bradstreet offers data from the world’s biggest commercial database which contains information about more than 300 Million companies. This verified company information is updated over 5 Million times a day to offer the most actual, complete and reliable actionable business insight. The combination of data, intelligence and technology helps professionals to make informed decisions.

Website: www.altares.be

B-Hive and Temenos join forces with their newly-found associate partnership

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Temenos (SIX: TEMN), the banking software company, and the collaborative fintech platform B-Hive Europe, announced their associate partnership at Digital Finance Europe on September 26. The collaboration has been launched at the National Bank of Belgium in Brussels.

B-Hive’s growth continues, as it partners up with another tremendous tech company. B-Hive has reached a wide audience within the fintech community and joining forces with Temenos strengthens their ecosystem extensively.

Based in Geneva, Temenos has over 3,000 firms around the world, and more than 500 million banking customers count on their services on a daily basis. With more than 25 years of experience, Temenos is a true market-leading software provider and their expertise in the banking and finance industry will add great value to B-Hive’s ecosystem.

Shared values make the perfect partnership

Both B-Hive and Temenos value collaboration and believe in its importance in creating the best customer outcomes.

Fabian Vandenreydt, Executive Chairman of B-Hive:

“Sharing similar values as companies made this partnership even more valuable. We want to create a space that benefits everyone within the ecosystem. This was just another reason why partnering up with Temenos made a lot of sense to us.”

In addition, the two hope to foster and cherish innovation. In order to develop and adapt to the digital transformation, fostering innovation is key.

Amal El Alami, MarketPlace Community Director for Europe at Temenos, adds:

“We are excited to be working with B-Hive in accelerating and empowering the highest levels of innovation for our customers. This partnership will help us strengthen the community around Temenos MarketPlace and to uncover the most exciting fintech companies in Europe. At Temenos, we open up our software to third-parties to encourage innovation. We value our innovative, open culture and hope to partner with other innovative companies through the ecosystem of B-Hive.”

The future looks bright

With this partnership, Temenos and B-Hive aim to work together on several of the B-Hive initiatives. As an associate partner, Temenos will take part in a dedicated B-Hive program and the two companies will collaborate on creating added value to the ecosystem of B-Hive. Temenos and B-Hive will also mutually participate in each other’s events, such as ‘Presenting best of fintech report’ from Temenos on November 22nd in Brussels.

B-Hive launches Trusted Fintech - Program to encourage startups and scale-ups to put more focus on security

A collaborative fintech platform, B-Hive, is launching a cyber security program, Trusted Fintech, to help startups and scale-ups embed cyber awareness into their core values. By providing a thorough, five-module program, B-Hive aims to increase the CyberSecurity resilience and compliance of fintech startups and scale-ups. Trusted Fintech was announced at Digital Finance Europe ’18 in Brussels.

The program aims to increase the trust within the general public in the fintech market space by improving the companies’ skills and processes and offering them practical insights and innovative technologies, delivered by cybersecurity members of the B-Hive community. Overall, the program includes five core modules that focus on three different dimensions - people, process and technology.

The main goals of the Trusted Fintech Program are to encourage startups to look at security from day one, embed it in their startup DNA and create a collective responsibility in their rapidly-growing organizations. Upon successful completion of the program they will receive the “Trusted Fintech” label, showing to their partners and customers that they take cybersecurity seriously.

“I am very excited about this program as it reflects what B-Hive is all about: connecting the dots in Finance. The program leverages know-how and technical capabilities of one part of our ecosystem to benefit the other part for the greater good of increased levels of trust in Financial Services, bottom line making it easier for our community to do business.”, says Patrick Coomans, CyberHive and TrustedFintech Program Manager. “I also want to thank our CyberSecurity members for their contributions: Bitsensor, Cranium, Digitribe, ICT Control, iGuards, Intigriti, NVISO, Onegini, Secure Code Warrior and Sweepatic.”

“There is a strong demand from our startup and scaleup community for specific services that shorten the sales cycle with financial service clients. The TrustedFintech initiative will contribute greatly to accelerate the due diligence and procurement process. This will benefit financial services institutions and fintechs alike.”, says Fabian Vandenreydt, Executive Chairman of B-Hive.

“It is a misconception that fintechs and banks are opponents. Banks need fintechs for their digitisation projects and fintechs need to leverage the expertise of banks to deliver on their selling proposition. However, lack of visibility about cyber risk management capacity and strict rules, including in the area of outsourcing, are often a stumbling block to smooth cooperation between fintechs and banks. With this label, we offer a solution to this problem. A quality label will help fintechs and banks to work together more quickly. This is a unique initiative in Europe that has Febelfin’s full support.”, says Karel Van Eetvelt, CEO of Febelfin.

“The result of Digital transformation and Open Banking is that our risk landscape is more and more including external solutions that we don’t operate and protect ourselves. We see that with smaller startups and scaleups there is often a gap between their notion of CyberSecurity and the level of protection we require them to have. That is why we are so supportive of the B-Hive Trusted Fintech program, as it really aims to immerse the staff of those companies, from the developers to the founders, in the world of Information Protection. Organizations joining this program give us an important signal of how much they value the safeguarding of information, ultimately protecting brand and reputation.” says Jan Nys, General Manager Information Risk and Infrastructure Architecture of KBC Group.

“Our customers expect banking solutions that are easy and safe to use. We do this by applying high standards in the areas of quality, reliability, security, and the protection of data and privacy – both for internally developed solutions, as well as for those that are built with partners. For that reason, we welcome B-Hive’s TrustedFintech Program. It will raise awareness among FinTechs, and enable them to design solutions that integrate security and privacy requirements from the start.”, says Jan De Blauwe, Head of Global Security at BNP Paribas Fortis.

About B-Hive:

B-Hive is a European collaborative innovation fintech platform that brings together major banks, insurers and market infrastructure players. Together, we work on common innovation programs and build bridges between our corporate partners and our start-up and scale-up community members. We aim to put Brussels on the map as the smart gateway to Europe and leverage on the opportunities offered by the digital transformation for the financial services industry. We believe that building bridges between important fintech hubs and the Eurozone enables both European and non-European companies to grow and expand.

TrustedFintech contact:

E-mail: patrick.coomans@b-hive.eu

Phone: +32-(0)477.40.53.09

Website: https://b-hive.eu/trusted-fintech/

B-Hive & Capitant: working together on an innovative digital talent marketplace.

In order to build its future-proof talent marketplace, B-Hive conducted a survey with 3500 Capitant students who will soon come on the job market or who have gained a first professional experience. This way, B-Hive had the opportunity to get insight in the expectations of the future working population and this population participate in the creation of a platform that is truly tailor-made to their needs.

First of all, it was quite surprising that these young professionals and students show to be rather conservative in their approach towards the job market. They look for jobs at fairs and on LinkedIn. However, a significant change is that they use their network from the very beginning of their career. Indeed, some 90% of the respondents say they call in their network to find a first job.

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Youngsters don’t like the phone anymore. They prefer to be contacted by an employer by e-mail. We thought that e-mail was not that much of a communication channel for young people anymore, but tomorrow’s generation is not yet ready to interact purely with chatbots. Probably a huge relief for the majority of HR professionals…

When talking about a platform they’d like to use and its functionalities, the new generation prefers to get insights in their strengths and development areas by means of taking e-assessments (67.50%) and they are also looking to interact directly with potential employers (81%). This is where the importance of real-time feedback comes in.

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Another interesting result is that young professionals are not interested in standardized job descriptions anymore (62%). They want testimonials, get insight in the day-to-day jobs through video or even VR, know the values of a company, …

The exchange of a job in return for skills definitely belongs to the past. Some 35% of the respondents also indicates that content about job market etc. is less appealing when looking for an opportunity in a focused way. When taking a closer look at the expectations towards a first job, the Capitant community is mainly on the lookout of learning opportunities throughout their career (97%), possibilities to grow professionally (78%), a good salary (62%) and a flexible work environment (57%).

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Overall, expectations have shifted a bit and job security is no longer on the wish list of young professionals. However, real-time interaction, immediate feedback and open communication are important requirements for companies wishing to hire tomorrow’s workforce.

Next step: we will go live on the SuperNova tech festival in Antwerp end of September. People who got a 75% match (or higher) with a job opportunity at one of the exhibiting companies or pitching scale-ups will receive a free ticket to drop by and get in touch with their potential new employer. After SuperNova, your CV will stay online after your explicit consent.

A major thank you to all Capitant members who participated in our survey.

Should you wish to get a more in-depth insight, don’t hesitate to contact ellen.thijs@b-hive.eu – We are still open to receive your resume on https://talentbuzz.cloud.beworkhappy.com/en/

Oracle and B-Hive Europe to collaborate on Fintech Innovation Program

Oracle and B-Hive Europe to collaborate on Fintech Innovation Program

Oracle has chosen Brussels as a European gateway to roll out its Fintech Innovation Program to Europe. Oracle plans to dedicate additional European staff and resources to set up mutually monetizable relationships with fintechs and digital banking innovators. Oracle plans to work with B-Hive Europe to accelerate enterprise readiness for participating fintechs and banks.