Is your startup going to be the next big thing in fintech? Do you have the AI, blockchain or cryptocurrency solution of the future? Or other innovation that is going to change how we do banking? And most importantly, do you want to collaborate with top banks from all over the world?
We are looking for the top fintech startups to work with top banks with over 100 million customers.
Make us love you and will make the banks love you more
Convince us you are what banks need, and you will be part of the selected top startups we Read more »
This is a guest post from one of our mentors, Petri Ekman. Petri is an experienced executive with a broad and in-depth experience in financing, financial and insurance products and risk management strategies for corporate clients. Petri’s current role is the founder and owner of Elevon Consulting Oy. There he focuses on advising companies in carrying out change programmes and setting up financing solutions.
In part one, I discussed the external factors forcing change upon the insurance industry. There is an obvious question that arises after. What is holding back insurance companies from changing their ways? Especially taking into account all of these looming threats on their horizon?
Again, I see a number of factors, many of which are universal, not insurance industry specific. Here is my list:
1. Non-life insurance is profitable
The non-life business is profitable today. That is because companies in a difficult investment environment have systematically cut their operating costs. And thus made their primary insurance business much Read more »
Most corporate accelerators fail in giving tangible results. Many corporations don’t even have a clear vision of what they’re trying to do with it! Some succeed in bringing only a few innovations to the market. Rarely the ones that can create real change. And most fail at changing the corporation in any meaningful way at all. This is entirely predictable. If that’s you, you’re probably doing it wrong.
Innovation is messy: you don’t know much at the beginning of the process, of what you’re going to get. Unfortunately, many people feel like they can’t prepare because of this. When it comes to corporate transformation, it’s exactly the opposite. Both sides (the startups and the corporation) must do their homework. Before and after the accelerator.
In fact, the accelerator should be no different than normal business Read more »
The startup event of the year, Slush, was last week and that meant it was also time for our official Slush side event: Corporate Venture Capital.
Together with Helsinki Business Hub, Mawsonia and Global Corporate Venturing we got together the brightest of the CVCs from all over the world. And thanks to the great speakers and our amazing attendees we got an interesting peek into what’s in the minds of the CVC professionals all over the world.
Corporate Venture Capital is here to stay
Corporate venture capital has been on the rise. But lately, some have started questioning whether it’s just a boom that is going to die soon. Read more »
Startups: when you apply to any of our accelerators or BankAccess programs, you’ll be exposed to all of our bank partners operating in 20+ countries in addition to TEB.
Türk Ekonomi Bankası (TEB) is a reputable institution in the Turkish banking sector operating with its more than 500 branches and about 10,000 employees throughout the country. Since its establishment in 1927, with its expanded network of branches and a diversified range of products and services, TEB has pursued operating in various fields of the banking sector.
In 2005, BNP Paribas, one of the strongest banks in the world Read more »
China has been the number one market in fintech for a while now, and India is right behind it. But will 3rd king of the market be the Central and Eastern Europe (CEE)?
At first, saying so might feel a bit surprising, random even. Sure, there are some great success stories like Prezi, Ustream, LogMeIn coming from there, but calling the area the next big fintech market – maybe a bit too much. Except when you dig deeper you can see that it has many similarities with the current fintech leaders; in e.g. consumer mentality and environment, regulations Read more »
This is a guest post from one of our mentors, Petri Ekman. Petri is an experienced executive with a broad and in-depth experience in financing, financial and insurance products and risk management strategies for corporate clients.
Change Started Later than in Many Other Industries
During my 12 years in insurance, I used to hear numerous times the claims “there have not been any new products in this industry for 100 years” or “this is how we have conducted our business for 120 years, and so far things have been rolling rather nicely.” These arrogant-sounding statements were used to blunt ideas to get some change in, well, most anything.
In reality, a major shift had already taken place then. Many companies had started to drive down their expense ratios to improve the profitability of their insurance operation. Read more »