Innovative platform Plug and Play, along with startup hub TechQuartier, announced on Monday that Aareal Bank, BNP Paribas, Deutsche Bank, DZ Bank and NETS Group are the first five corporate partners to join their fintech program based out of Frankfurt. According to the organizations, the partnership, known as “Fintech Europe,” will act as a home away from home for some of the most disruptive and innovative startups in the banking industry as they pilot their solutions with leading financial institutions.
Plug and Play and TechQuartier reported that the goal of Fintech Europe is to have 10-15 banks and financial service providers as partners in Frankfurt. The first five founding partners will dictate the focus of the program based on their current use cases, with Plug and Play championing a selection of highly rated startups sourced via their global network. Plug and Play will also work hand in hand with the partners’ various business units to expedite the engagement process and encourage fruitful collaboration. Saeed Amidi, CEO and Founder of Plug and Play, commented:“Frankfurt is a major financial capital and on track to also become a global fintech hub. We are very proud to be launching our first fintech open innovation platform for Europe, and we invite our partners from across the continent to join us as we build a fintech platform that is relevant not just to Europe, but the world.”
The duo added that the program is set to kick off on May 29th and the first batch of startups will join in June. TechQuartier will notably provide complimentary desk space along with mentorship from their premier network of executives, investors, and entrepreneurs.