SAP.iO Kicks Off First B2B European Startup Accelerator Focused on Fintech and Governance, Risk and Compliance

 The SAP.iO Foundry Berlin kicked off a dedicated financial technology (fintech) program with participants consisting of business-to-business startups focused on finance and governance, risk and compliance (GRC), SAP SE (NYSE: SAP) said today.

With the growing complexity of regulatory laws impacting enterprises, startup solutions and innovations will help optimize enterprise resource planning processes and address customer needs. In a recent report by Deloitte, cost reduction and increased regulatory scrutiny were the main drivers of a significant increase in spending on enterprise risk management. With more than 56 percent of organizations using, or planning to use, cloud-based platforms, enterprises are looking for intelligent, real-time, actionable solutions to meet their improved efficiency goals.

“With SAP S/4HANA, we offer a consistent intelligent ERP solution that works in harmony across cloud and on premise,” said Thomas Saueressig, president of SAP Product Engineering. “We are excited to work with startups to further accelerate the speed of innovation delivered to our customers.”

SAP.iO Foundry Berlin is part of SAP’s strategic business unit designed to accelerate innovation and drive new business models for SAP. The SAP.iO Foundries program is a global network of equity-free accelerator programs located in strategic hubs and provides startups with access to mentorship, exposure to SAP technologies, and opportunities to meet and collaborate with SAP customers.

These startups are joining the SAP.iO Foundry Berlin program for Fall 2019:

• Iristrace is transforming the management of business risk into business value by providing risk strategy validation. The startup is headquartered in the Netherlands.
• Hanko provides Fast Identity Online (FIDO)-based identity and authentication as a service. The startup is founded in Germany.
• troy is a German-based startup that uses machine learning and artificial intelligence to combine successful debt collection with customer relationship management.
• PXL Vision is a Swiss startup for creating and managing trusted, verified digital identities.
• Aividens is a Belgian startup that provides predictive cash and risk management to improve cash accuracy, reduce overdue debts and improve operational efficiency and customer satisfaction.
• Spherity, a German startup, combines unique identifiers with verifiable data to offer out-of-the-box cloud wallet capabilities.

The accelerator program will run for 12 weeks and conclude with a “Demo Day Presentation” on December 12.

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