Oracle has chosen Brussels as the venue for a European gateway to roll out its European Fintech Innovation Programme.

Oracle will dedicate additional European staff and resources to set up what it terms mutually monetisable relationships with fintechs and digital banking innovators. Oracle will work with B-Hive Europe to accelerate enterprise readiness for participating fintechs and banks.

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Brussels was chosen as Oracle’s European fintech hub because of its central location and the presence of leading institutions of the European Union. Oracle’s customers will benefit from a renewed focus on European affairs.

Johan Van Overtveldt, Belgium’s Minister of Finance, said “I wholeheartedly support the decision of Oracle to organise its European rollout from Brussels. Oracle is a global, reliable, technology company and B-Hive Europe is an important public and private sector collaboration.

Brussels a pan-European hub

“I expect this relationship to create real momentum in the acceleration of financial innovation in Belgium and Europe. It further strengthens Brussels as a pan-European hub for fintech and thus contributes to our strategy to focus on attracting niche financial activities, such as fintech, insurance and market infrastructures.”

Rik De Deyn, senior innovation director, Oracle, who’ll be leading the European rollout, said: “At Oracle, we realise that in Europe, results-driven digital innovation is thriving because of the historical roots of banking. We are choosing Brussels as our fintech center for mainland Europe because of its excellent location.

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“Brussels is easy to reach from most European financial hubs, close to the European Commission, and an ideal location to bring together fintech innovators and financial institutions,” he added. “Our work with B-Hive Europe will inevitably result in a faster time to innovation value for banks and insurers, and accelerated monetisation for fintechs.”

B-Hive Europe is a collaborative innovation fintech platform that brings together major banks, insurers and market infrastructure players to work on common innovation challenges and build bridges to the start-up and scale-up community