After announcing their Fintech Innovation Program collaboration in July, Oracle and B-Hive are taking their next step to jointly launch a fast-tracked monetization ecosystem program for mature startup and scale-up fintechs, called Fintech ScaleUp. Registration opens today and the program will kickstart in January when Oracle and B-Hive will select 15 startup or scale-up fintechs in two program sessions that will take place in Brussels and London.
The program will be the first outcome of the new collaboration. Oracle and B-Hive aim to maximize business opportunities for mature fintech startups and scale-ups while minimizing the time in the market through a six-week, fast-tracked monetization program. The program drives fintechs to discover a joint business model with Oracle, earn a proof of concept and enter one of the existing monetization models on Oracle Cloud, where Oracle’s customers can get access to their products and services.
Oracle and B-Hive will select the most promising tech startup or scale-up fintechs who they believe have the highest potential to reach their goals of becoming a top-tier fintech company. The focus in the six-week program will be on open banking, fraud detection and data monetization. Interested fintechs can register by contacting b-hive.eu.
Oracle’s goal of monetizing and accelerating fintech innovation and B-Hive’s expertise in startups mentoring sparked the idea of such a program. Mark Smedley, Vice President of the Global Financial Services Industry Solutions at Oracle has big hopes for the program. “The goal of the Fintech ScaleUp program is to support fintech companies and help them become scalable and successful and provide them great sales opportunities in a short period of time. They will have access to Oracle client base of financial services industry players, be a part of Oracle Cloud’s extended ecosystem and make use of our cloud software. We will also provide mentoring and insights for the startups, with B-Hive’s help of course.”
The program will not only benefit the tech companies but the financial services companies as well. They will gain access to a variety of fintech companies that have found enterprise-strength solutions to some of the biggest challenges the financial industry is facing today.
B-Hive’s Executive Chairman, Fabian Vandenreydt believes that B-Hive’s expertise in mentoring startups and Oracle’s powerful brand are an excellent combination that will guarantee the program’s success. “B-Hive Europe is delighted to contribute its fintech startup ecosystem management expertise to launch the first two workshops of the Fintech StartUp program. Leveraging Oracle platform and cloud expertise, and market presence in Corporates and FI’s will bring the best fintech scale-ups to the market as part of the Oracle Cloud Portfolio. This will offer additional functionalities to Oracle Cloud users and support fintechs in their go to market.”