On Thursday Oracle announced it has formed a partnership with B-Hive Europe to launch a fintech innovation program in Brussels. The company reported that Brussels was chosen as its European fintech hub because of its centralized location and the presence of leading institutions of the European Union (EU). Speaking about the collaboration and launch of the program, Johan Van Overtveldt, Belgium’s Minister of Finance, stated:
“I wholeheartedly support the decision of Oracle to organize their European rollout from Brussels. Oracle is a global, reliable, technology company and B-Hive Europe is an important public and private sector collaboration. I expect this relationship to create real momentum in the acceleration of financial innovation in Belgium and Europe. It further strengthens Brussels as a pan-European hub for fintech and thus contributes to our strategy to focus on attracting niche financial activities, such as fintech, insurance and market infrastructures.”
Rik De Deyn, Senior Innovation director at Oracle, also commented:
“At Oracle, we realize that in Europe, results-driven digital innovation is thriving because of the historical roots of banking. We are choosing Brussels as our fintech center for mainland Europe because of its excellent location. Brussels is easy to reach from most European financial hubs, close to the European Commission, and an ideal location to bring together fintech innovators and financial institutions,” he added. “Our work with B-Hive Europe will inevitably result in a faster time to innovation value for banks and insurers, and accelerated monetization for fintechs.”
The fintech program reportedly being globally spearheaded by Mark Smedley, VP Financial Services Solutions. De Deyn will be leading the European effort.