Plug and Play’s newest innovation platform Fintech Europe has selected its initial nine startups for its program.
Fintech Europe will be based out of Germany and will work alongside its founding partners Deutsche Bank and TechQuartier. This platform will be a ‘multi-corporate’ FinTech program and will run two 12-week accelerators a year.
One of the companies to join the inaugural cohort is financial risk and forecasting platform AlgoDynamix. The UK-based company claims to optimise trading and investment decisions, provide volatility risk forecasting and advance warning of downside market risk, and provides hours or days advance warning of major downside events.
Another company in the cohort is data detection service DreamQuark. The French company’s software helps banks, insurance companies, and asset management firms for all their artificial intelligence needs. Its solution covers all financial services’ activities with dedicated applications such as segmentation, targeting, underwriting, credit scoring, asset management, compliance, anti-money laundering, fraud, dunning, satisfaction and customer retention.
Fintech Europe screened more than 200 applications and boiled them down to just nine startups. Fintech Europe will facilitate pilots, POCs, and business development opportunities for those participating.
During the program, startups will be introduced to Plug and Play’s corporate partners and be given the chance to work with other companies to evaluate pilots and investment opportunities.
Plug and Play managing director EMEA Omeed Mehrinfar said, “Based on the success of our stage-agnostic and multi-corporate innovation platforms in California, we are proud to extend this model to Europe, providing proximity to many of our existing and prospective corporate partners in the financial sector.
“In the last few months, we launched our FinTech program and partnered with six leading financial institutions. This is a great start to our journey and we look forward to launching a successful program alongside our corporate partners.”
The remaining companies in the cohort are augmented customer service solution Alcméon, payments company OptioPay, direct lending solution for banks Giromatch, payment and loyalty card provider Handcheque, API integration developer OpenLegacy, personal inventory company Valoo, and audio-transcript service Voxo.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
