National Bank of Greece: Completion of the first programme of “be finnovative” accelerator

Blog (English)

The Demo Day, which took place on Thursday 27 April 2017, marked the successful completion of the first programme of “be finnovative”, organized by National Bank of Greece and Crowdpolicy. It is designed to accelerate the growth of financial technology companies.

Nine teams in total pitched their ideas to venture capitalists active in the Greek market, representatives of NBG Business Seeds, executives coming from supporting companies and institutions and other stakeholders.

First cohort of the program is composed of the following teams: Ovolus, Buddy, Finker, Synaphea, Big [O] technologies,, Echoleap, MindNodes and Yammas. Their business models are based on the digitization and simplification of financial services, social media payments, blockchain solutions, chatbot technologies and multichannel customer services.

Ms. Nelly Tzakou-Lambropoulou, General Manager of Retail Banking at National Bank of Greece stated: “National Bank of Greece aims to build strategic partnerships with fintech companies; we cooperate in order to develop innovative products and services, for example we launched a donation crowd funding platform “Act4Greece” with Crowdpolicy and we also take initiatives like “be finnovative” to foster the fintech ecosystem in Greece. By integrating our complementary strengths, both banks and fintechs can co-exist with mutual benefits and goals”.

After the pitching session, National Bank of Greece announced its intention to cooperate with four of the teams on the following business ideas:
1. Synaphea: cooperation for the development of a blockchain-based B2B loyalty reward program.
2. Yammas: developing new ways of fee clearance to third parties with the use of credit cards and i-bank Pay, the bank’s digital wallet.
3. Mindnodes: chatbot development and speech recognition.
4. Ovolus: development of C2C & B2B installment payments with credit card limits.

As part of the program, the People’s Trust a non-governmental organization, announced its support to Synaphea and Yammas, with a grant of 6,000 euros for each, as well as its intention to further investigate support of one more team, Echoleap. Furthermore, Reload Greece announced that Synaphea will participate at the RG Challenge in London, 9-day acceleration program that will be held between 28 June and 7 July 2017.

NBG thanked all the mentors and supporters of the program who provided coaching and mentoring to “be finnovative” teams throughout the program and announced a second programme starting by the end of this year.

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Posted by Efma

Date 17/5/2017