DemystData was proud to be selected as one of 10 companies to join the ABN AMRO launchpad program starting in September.
This selection came as a result of the HighTechXL Impact Summit, a three-day technology conference organized last month, in collaboration with ABN AMRO, ASML, EY, NTS-Group, and Philips.
Over 70 early-stage and advanced companies from 23 different countries around the world were selected from an initial 5000+ companies to participate in the event.
This conference matched startups with industry experts, corporate executives, and investors through 1-on-1 meetings and large pitch presentations across three tracks. DemystData was part of the Fintech track, organized in partnership with ABN AMRO and EY. DemystData’s offering impressed a panel of experts keen on learning more.
Overall, three interesting trends were clearly on display during the summit:
- Fintech is moving up on the European agenda: What was originally designed as a high-tech event three years ago saw the addition of med-tech in 2016, and fintech in 2017. This reflects the growing level of interest in the fintech space in Europe, as several contenders, including the Netherlands, are actively trying to reap the benefits of the Brexit fallout. No longer seeing fintech as threats, banks are now actively trying to identify ways to engage with fintechs directly. And events like the Impact Summit are a very effective way to do so.
- Europe is ready to aggressively expand its data horizon: The eagerness to leverage a wider range of data to achieve higher returns has reached new heights on the old continent. Using more and more data is becoming a must for financial institutions in this increasingly competitive environment. At the same time, the data universe is ever growing in complexity, offering great opportunities for providers to break through the noise.
- Regulatory oversight is creating uncertainty: While the notion of using more data is achieving mainstream status amongst financial institutions, the regulatory framework is also becoming more formalized – with new initiatives such as GDPR and PSD2 soon coming into effect. Uncertainty over their implementation is creating a clear and urgent need within financial organizations for reliable data access in a compliant environment. This additional layer of complexity will encourage some data providers to push themselves harder while others will fall behind in keeping up with privacy, compliance, and permissibility regulations.
We look forward to delving into those issues and exploring how DemystData can help drive data access and compliance within ABN Amro starting this fall. Stay tuned for more on our European journey.
You can read the official announcement here.