BNP Paribas, along with Plug and Play, announced on Friday that 11 fintech and insurtech startups have joined Season 3 of their collaborated acceleration program. BNP Paribas reported that it began its partnership with Plug and Play in 2016 and has since launched an international program specifically for fintech and insurtech startups at Station F in Paris.
Between the first two seasons, the program helped 18 startups from 8 countries to bring 20 pilot projects. The collaborations focused on five main topics, which are customer experience, customer knowledge, information security, back-office efficiency, and services for small and medium-sized companies. While sharing more details about the program, Jacques d’Estais, BNP Paribas Group Deputy COO and Head of International Financial Services, stated:
“Our acceleration program in conjunction with Plug and Play at Station F is at the heart of our open innovation strategy. We will take our partnership forward at the same pace over the next few months; the forthcoming rollout at scale of the best pilot projects will enable us to drive forward with our digital transition and to evolve customer experience.”
The 11 selected startups in Batch 3 are:
- AdviceRobo (The Netherlands): Psychometric credit scoring and risk reduction by predicting creditworthiness, default, prepayments and churn in order to support financial institutions and empower Millennials and SMEs that are not being adequately served by traditional banks.
- Simple (France): An insurance brokerage designed to meet all company needs – supplementary health insurance for employees; buildings insurance; company vehicle insurance – based on customised, affordable and reliable offers with no strings attached.
- Duco (UK): Helps non-technical staff to reconcile orders, transactions or reference data from different datasets, based on user-friendly self-service software, thus automating the manual reconciliation process.
- OpenLegacy (US): Provides an API integration platform designed to leverage and modernise essential company legacy systems, enabling firms to drive forward with their digital transformation.
- Mishipay (UK): An in-store self-scan payment technology. The customer can pay for his/her purchases with a smartphone and walk out without having to queue up at the checkout. MishiPay is as simple as that: walk in, select items, scan, pay and walk out.
- Lore (US): An AI-based multi-language, multi-source document search, tagging and information retrieval solution. Users can retrieve the information they need from both internal and public documents, including newspapers, social network posts, company documents, press releases, and transcripts.
- Pikcio (France): Provides a secure, compliant, Blockchain-based data ecosystem that enables the collection and exchange of personal data, enabling users to save time, reduce costs and increase Customer Satisfaction.
- Tapoly (UK): An on-demand insurance for freelancers, contractors and SMEs, and everyone else in the sharing economy and the gig economy. If you wish to rent out your bicycle or a bedroom at your home, Tapoly will provide flexible insurance to cover all your risks so you can add new cover when you need it and pay premiums accordingly.
- Neener Analytics (US): Offers alternative risk assessment services and marketing conversions. Based on behavioral and personality analysis, the company helps clients reduce defaults, boost the sales conversion rate and expand their business.
- Yogosha (France): A ‘bug bounty’ platform, enabling website owners and developers to compensate ‘white hat’ hackers for reporting bugs and signaling vulnerabilities so as to enable the firm to improve its cybersecurity. The ‘bug bounty’ approach means that the firm only pays for actual bugs that are discovered.
- Valoo (France): A Digital Management Platform for belongings, enabling users to register, assess and manage everything they own. Users can work out the value of each of their possessions in real time, sell, lend or share them using the Valoo sales comparison service, take out insurance on them and make an insurance claim on the site free of charge.