Oracle and B-Hive have selected the first fintechs to take part in the Fintech ScaleUp Program that aims to maximize business opportunities for startup, scale-up and mature fintechs while minimizing the time to get to market.
The program starts today with an ignition day in Brussels.
The goal of the program is to realize a fast go-to market model with Oracle as well as enter one of the existing monetization models on Oracle Cloud, where Oracle’s customers can get access to the fintech’s products and services. The fintechs were selected for Oracle and B-Hive’s Fintech ScaleUp Program based on their potential to scale-up, proven market fit and motivated mindset. The fintechs are Features Analytics, BankiFi, Finweg, InvestSuite, The Logic Value, POM, Risk Ident, Salt Edge, Twikey, Unchain.io and Vadis Technologies.
Together with Oracle and B-Hive, the fintechs will explore their true potential. Anthony de Bruyn, Marketing and Communication Manager at POM, hopes to discover collaboration and integration scenarios of their invoice management services with the Oracle platform and its customers.
“Through our participation in the program, our goal is to find the perfect match between POM, Oracle's technology and its enterprise customers. We would be thrilled to create a joint go-to-market model and make POM available to Oracle's customer base.” de Bruyn adds.
The fintechs will go through a four-month program that is divided into two sections. The first section focuses on business models, with masterclasses, pitches from selected fintechs and matchmaking sessions, while the second section will have an execution-focus, reviewing the Proof of Concept and the monetization process. Rik De Deyn from Oracle believes that the program will be a great stepping stone for the fintechs on their way to the top of the fintech scene.
“Oracle’s customers are asking us to speed up the collaboration between the innovation of relevant fintechs and the resilience of the Oracle platform. The first Fintech ScaleUp program cycle addresses that request in the areas of Open Banking, Data Monetization and ERP Added-Value. Our customers will be the real beneficiaries of this program.“
Today marks as the first day of the program that will run for the next four months. The program will finish in April, when four fintechs will graduate and start their collaboration with Oracle. This makes their product visible to Oracle’s customers including most Tier-1 banks as well as other well-established large and mid-sized companies.
A second round will take place in London and have new fintechs go through a similar process.