Eight fintech and insurtech startups have joined the innovation accelerator program run by L’Atelier BNP Paribas.
Over the next four months, the startups will be working on an open innovation program with the aim of meeting specific needs expressed by various BNP Paribas businesses in a number of fields including insurance, payment methods, customer experience, cybersecurity, risk analysis and compliance.
Each startup will be working along with one of the BNP Paribas Group’s businesses to develop co-innovations that will open up new business opportunities and help create new products and services for the Bank’s customers.
Each of them will receive coaching in such areas as IT, marketing, business practice and fundraising from the L’Atelier BNP Paribas Lab team, plus mentoring from entrepreneurs and financial industry experts. The startups will be hosted at the BNP Paribas We Are Innovation (WAI) space in Paris.
The accelerator has created the following startup-bank buisness pairings:
– Amalfi, pairing with BNP Paribas Cardif, is a French peer-to-peer insurance broker, which uses data-driven behavioural analysis and community management to enable customers to reduce their overall cost of insurance;
– Fortia Financial Solutions, pairing with BNP Paribas Securities Services, is a French company that brings technologies, based on artificial intelligence, machine learning and collaborative intelligence, to the field of regulatory practice;
– Heuritech, pairing with BNP Paribas Personal Finance, is developing a platform of artificial intelligence (AI) solutions designed to automatically turn all content (both multilingual texts and images) into actionable data;
– KYC3 (Know Your Customer, Counterparty and Competition), pairing with BNP Paribas Wealth Management, operates in many dimensions – helping to manage regulatory and reputational risk end-to-end from business development through to compliance; obtaining actionable intelligence from machine learning on unstructured Big Data;
– LogMote, pairing with the BNP Paribas Retail Banking Division in France (FRB), is a unified authentication service which manages both legacy and cloud applications;
– PayCar, pairing with BNP Paribas Cardif, provides a payment method designed to facilitate used car transactions;
– TwinPeek, pairing with BNP Paribas Wealth Management, is a personal data protection & monetization solution that allows people to take control of their online data and only share the information they want to share anonymously and securely via a Digital Alter Ego, or “Twin”, while transacting, interacting or browsing on the internet; and
– CommonAccord, L’Atelier BNP Paribas special choice partner, which brings open source collaboration to legal documents.
The demo day will take place in June 2016.