5 FinTech companies revolutionising the banking industry in Belgium

By Gloria Methri

AI, automation, and big data analytics are key themes for the Belgian FinTech sector, with innovative companies working to solve common problems in the financial services sector.

The term FinTech refers to technology that is applied to financial services or the management of transaction operations within businesses. Cloud-based applications that are cost efficient, help streamline workflow, and visualise data for users are in high demand in Belgium.

The nation’s friendly regulatory environment for financial service companies has allows it to become the regional hub for FinTech start-ups and companies. Additionally, the government’s ‘superfund’ for tech scale-ups also ensure that great ideas can take off.

Here are five of the most innovative FinTech companies based in Belgium:

• iBanFirst

iBanFirst is a global financial service provider that facilitates B2B payments across numerous currencies. Using its core banking platform, financial teams can make and receive payments in over 30 currencies and hedge foreign exchange risks. Founded in Paris in 2013, iBanFirst is headquartered in Brussels Hoofdstedelijk Gewest, Belgium.

• Investsuite

Investsuite is a European FinTech providing automated investment solutions to help financial institutions retain their clients. Based out of Louvain, Vlaams-Brabant, the B2B WealthTech company has a team of experts who operate across design, technology, and finance.

• Silverfin

Silverfin is a cloud platform for automated financial reporting and value-added client advisory services. Silverfin takes financial data directly from client systems and hosts it securely in a single cloud Structured Data Hub. It then templates standardise, and automates, accounting workflows and uses the data hub to make compliance easy, fast, and accurate.

• Clear2Pay

Clear2Pay is an innovative payments technology company providing payment-related solutions for financial institutions and their clients. Its Open Payment Framework (OPF) enables banks to improve internal payment processing efficiencies whilst providing their clients with better payment services. Clear2Pay is based out of Mechelen-bovelingen, Limburg, Belgium.

• Qover

An expert in embedded insurance orchestration, Qover designs, builds and distributes innovative digital insurance solutions across Europe to help fast-growing companies. Based out of Brussels, Brussels Hoofdstedelijk Gewest, Belgium, it provides seamless digital insurance experiences to over 2.5 million users across 32 countries and works with longstanding partners like Revolut, Deliveroo, Canyon, Monese, Cowboy, and many others.