Global innovation platform Plug and Play announced on Thursday its Fintech Europe accelerator program has selected eight startups for its fourth batch. Plug and Play reported together with Deutsche Bank, TechQuartier, BNP Paribas, Nets Group, UniCredit, Aareal Bank, Abanca, Danske Bank, DZ Bank, Elo, and Finablr, the program runs two 12-week innovation programs a year.
“After screening applications from all over the world and intensive weeks of reviewing preselected startups with the partners, the final group of eight startups have been accepted into Fintech Europe. The program aims at facilitating pilots, POCs, and business development opportunities for the participating startups and financial institutions.”
Speaking about the latest batch, Fernando Zornig, Program Director of Plug and Play’s Fintech Europe program, stated:
“This new class of startups are changing the landscape of Financial Services from new ways to evaluate customers credit scores using artificial intelligence and Machine Learning to KYC/AML for business customers. As we’re seeing a lot of regulatory changes in Europe over the next few months, I am confident that these solutions will help our corporate partners adapt to these changes faster.”
The eight selected are the following:
- Apiax: A company that transforms complex regulations into digital compliance rules, which are constantly up-to-date and verified, accessible via an API.
- CashDirector: A technology company that provides SMEs and banks with a Digital CFO integrated with on-line banking, helping with SMEs manage cash flow and accessing financing.
- Credit Kudos: A credit bureau that uses financial behavior to measure creditworthiness.
- Elucidate: A data-driven financial crime risk ratings agency. The Elucidate FinCrime Index (“EFI”) utilises modeling and machine learning to digitize and quantify FinCrime risk, enabling proactive management of exposure levels and clear pricing of FinCrime risk.
- kompany: A global RegTech platform for audit-proof Business KYC, AML and UBO verification.
- Uhura Solutions: An AI platform that reads and understands contracts and agreements just as humans do.
- Mostly AI: Offers a Synthetic Data Engine that can be used to unlock data assets that are otherwise locked away for privacy reasons.
- Responsive: Hybrid wealth solution that increases advisor productivity with better, faster decisions.