B.Fine, a Belgium-based regtech service provider, recently announced it secured €1 million through its first investment round, which was led by Pamica NV. Founded in 2017, B.Fine states that banks rely on its platform to transform their time-consuming reporting processes into an effective reporting supply chain.
“Through its platform, b.rx, b.fine strongly reduces the regulatory burden for financial institutions by offering them an all-encompassing platform for managing their regulatory reporting processes. b.rx is the first platform that goes beyond the regulatory reports and fully digitize and automate the journey of a reporting team.”
While sharing more details about the platform, Klaas Van Imschoot, co-founder B.Fine, stated:
“Since the financial crisis, financial institutions have been exposed to a regulatory tsunami with ever increasing reporting and data requirements. These new reports with their proper timelines and data requirements, heavily impacted the way of working within the different reporting teams. At the same time, regulators also extended their focus from reports towards the underlying data and associated processes. However, none of the current solutions really captured these changing needs from reporting teams and regulators. With our platform b.rx, we are bringing the required innovation to this market and are leading financial institutions to the next era of regulatory reporting.”
Funds from the investment round will be used to continue the development of B.Fine and b.rx platform.