Six new Fintech start-ups will attend the ING FinTech Village programme in Belgium; over four months these start-ups will work, together with their sponsor, on implementing a Proof of Concept (a prototype that is ready to be brought to market), with the results to be presented on 26 June 2018 during the Demo Day.
Out of a group of more than 550 start-ups focused on the financial sector, three Belgian, a Swedish, a Luxembourgish and an English start-up were selected to take part in the third edition of the ING FinTech Village programme. The six participating fintechs are Accountable, Asteria, Koopol, Rokestate, REGnosys and Snapswap.
During the programme, the start-ups will be challenged to sharpen the focus of their business model and their entrepreneurship. An equally important element and also one of the great strengths of the programme is that the fintechs work closely with ING to implement a Proof of Concept. That will enable them to adjust their product, where necessary, in consultation with ING as a potential client. The start-ups will be guided in the process by several mentors, two of which are senior managers of ING in Luxembourg.
ING continues to engage in cooperation with Fintechs
ING currently partners with more than 100 Fintechs worldwide that help them reach our goal and empower people to stay a step ahead in life and in business. “Banks and fintechs together can do a lot and you already see great products and services as a result,” explained Colette Dierick, CEO ING Luxembourg. “We think collaboration between banks and fintechs works well. Fintechs come with expert knowhow on customer experience, agility and technology; we provide what they don’t have: a large customer base, scalability and a trusted brand.”
Stephanie Van Avesaat, Head of FinTech Village, stated: "This third edition of the ING FinTech Village once again shows the commitment of ING to innovation. ING has played a pioneering role in fostering collaboration with fintechs, given that the ING FinTech Village was the first Belgian accelerator programme focused on financial technology. Now that ING FinTech Village is on its third edition, we are proud to be able to say that we have continued the collaboration with a number of fintechs from the two previous editions, and that the solutions they developed are currently being rolled out within the bank.”
The selected start-ups and the ING FinTech Village partners
The six selected start-ups are:
- Snapswap (Luxembourg): Snapswap offers a fully digital way to on-board customers, collecting all necessary KYC data and aiming for a legally binding electronic signature (also non-residents).
- Accountable (Belgium): Accountable is a mobile app to support independents in their financial administration, including Accounting as a Service. The app offers cash forecasting, invoice management and (soon) real-time tax optimization recommendations.
- Asteria (Sweden): Asteria provides SME customers with an easy way to understand & optimize business cash flow & FX risk management.
- Koopol (Belgium): Koopol gathers and enriches e-commerce data for the merchant from various sources in order to bring predictive data, actionable insights and optimize the channel strategy of the merchant.
- REGnosys (United Kingdom): Programmatic Compliance and Open Sourcing to support and demonstrate real time compliance against trading EU regulations (MiFID II).
- Rockestate (Belgium): Rockestate unlocks new insights through leveraging open geo data and statistics. Focus area: improving our credit risk management for mortgages.
The partners of ING FinTech Village – core partners Deloitte, SWIFT, Innotribe & The Bridge and partners B-Hive, IBM, Smartfin Capital and Startups.be - have renewed their commitment to ING FinTech Village with great enthusiasm.