InsurTech has been on the rise for the last 2 to 3 years. More and more companies are starting to see the benefit or opportunities with InsurTech…
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.
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.
Patrick Coomans, Head of CyberSecurity Innovation and Community
The accelerated digitalization and automation of our work environment is also called the “Fourth Industrial Revolution.” This digitalization has been going on for some time now, but the recent technology breakthroughs and the continuous accelerated introduction creates an increasing insecurity about the consequences for everyone—not only in our daily life, but also for our job content.
The TechForFin map of Belgium - companies clustered by different sector verticals
B-Hive is here to help you navigate the São Paulo fintech scene. Vamos nessa?
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!
As you all know, having the right support is essential to be able to transform an idea into a viable business. We tried to facilitate the arduous search for help, by compiling a list of 100 accelerators/incubators active in Europe
by Wim de Waele (original publication in NL, on 8/10/16, De TIJD)
Belgium could be a pioneer in offering new services for digital platforms for banks, but we need to act quickly and united.
Eggsplore worked together with the Belgian department of Foreign Affairs and the Belgian Foreign Trade Agency (FIT) on the publication of the "Belgian Digital Banking Technologies". This publication starts with mapping out the entire sector in facts and figures. On top of that, some of our members share their success stories and why their company contributes to the Belgian banking sector. To top it off, there is a non-exhaustive list of Fintech players (big and small) active in Belgium.
Distributed Ledger Technology (DLT) is taking the world by storm. Especially within the financial industry, it raises the question: is it a hype or a haven? In collaboration with Vlerick, we have put together a report, giving an overview of the technology, the platforms, some existing use cases and the challenges and opportunities this technology faces. An ideal read to get started with the biggest trend in fintech!
We are proud to share with you, our first fintech funding report, comprising and analyzing funding information of European and Belgian FinTechs, for H1 of 2016.
Yup, there's a whole segment dedicated to Belgian FinTech, you read that right!