Regtech b.fine raises EUR1m

Belgian regtech b.fine has raised EUR1 million in a funding round led by former Clear2Pay CEO Michel Akkermans’ investment firm.

B.fine has developed what it calls an “all-encompassing” platform for managing the regulatory reporting processes for financial institutions. The b.rx platform fully digitises and automates a reporting team’s journey, giving firms control and oversight on their different regulatory reporting streams.

In addition to its SaaS platform, b.fine also offers FS firms advisory services and managed services that let firms outsource certain arts of the reporting process.

Says Akkermans, who joins the b.fine board: “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.”

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