Belgian RegTech B.Fine secures €1 million in first investment round
By Megha Bhattacharya
Belgium-based RegTech B.Fine announced that it has secured €1 million through its first investment round led by investment firm Pamica NV. Funds from the investment round will be used to continue the development of B.Fine and b.rx platform.
Says Akkermans, who will be joining the company’s board said, “Financial institutions are continuously struggling to submit their reports on time and with the right level of data quality. With b.fine’s platform b.rx, regulatory reporting will be heavily simplified and thus the regulatory pressure will be relieved as well.”
Founded in 2017, B.Fine aims to enable the management of regulatory reporting processes for financial institutions. The company stated that the b.rx platform fully digitises and automates a reporting team’s journey, giving firms control and oversight on their different regulatory reporting streams.
Klaas Van Imschoot, co-founder B.Fine, stated, “Since the financial crisis, financial institutions have been exposed to a regulatory tsunami with ever increasing reporting and data requirements. These new reports with their proper timelines and data requirements, heavily impacted the way of working within the different reporting teams. At the same time, regulators also extended their focus from reports towards the underlying data and associated processes. However, none of the current solutions really captured these changing needs from reporting teams and regulators. With our platform b.rx, we are bringing the required innovation to this market and are leading financial institutions to the next era of regulatory reporting.”
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