BNP, RBS to launch insurtech and fintech accelerator programmes
BNP Paribas and Royal Bank of Scotland are the latest financial institutions to launch insurtech and fintech accelerator programmes. BNP is inviting start-ups to compete for focused business coaching from the French bank in a programme held twice a year in Paris. With start-up incubator firm Plug and Play, the three-month programme will offer business coaching, development, fundraising and banking advice to the 10 companies selected for each programme. RBS is opening its fintech hub at its Entrepreneurial Spark centre in Edinburgh, offering start-ups free space and expertise. Similar initiatives have been launched in London by Startupbootcamp InsurTech and globally by Accenture.

BNP Paribas, alongside its partner Plug and Play, announced on Friday they are launching a fintech and insurtech acceleration program in Paris.

According to BNP Paribas, the three-month program will be held twice a year and offer 10 startups with the following services:

Business plan coaching

Business development opportunities

Fundraising opportunities

BNP Paribas’ business relationship manager support

Plug and Play mentorship

Networking events and numerous speaker series

Jacques d’Estais, Deputy Chief Operating Officer and Head of International Financial Services of BNP Paribas, stated:

“At BNP Paribas, we believe in open innovation as a strong driver to transform ourselves towards building the bank of the future and providing our customers with high-value products and services. This goes through developing fintech incubation and acceleration ecosystems in Europe, the USA and Asia. This new step in our partnership with Plug and Play will complement our current programs, such as the fintech and Corporate Accelerator by l’Atelier BNP Paribas which allowed strategic investments in 2016. Building on this success we are strengthening our positions in the start-up ecosystem through this new partnership. It will enable us to further benefit from the global expertise of Plug and Play and create unique links between us and the European and Californian start-up.”

Founder and CEO of Plug and Play, Saeed Amidi added:

“It is with great pride for Plug and Play to partner with BNP Paribas, one of the strongest banks in the world. We are planning to build together a great innovation platform in Paris to serve innovation inside the bank and its different business lines. We are very excited by this opportunity to work with European entrepreneurs and offer technology transfer from our global network” explained Saeed Amidi, “We are already working with a number of exciting French and European companies like Michelin, Carrefour, RATP Group, Carlson Wagonlit Travel, Valeo, Mercedes, and Munich Re and look forward to furthering our work with BNP Paribas in Paris.”

Application deadline is March 10th and the program’s launch is April 18th.