Fabrick selects FinTech solutions to accelerate in collaboration with Federated Innovation @Mind

By Joy Dumasia

Federated Innovation @MIND, a public-private collaborative model to foster innovation and Fabrick, a business that promotes Open Finance at an international level, are two businesses that share a common desire to encourage the development of innovative concepts into concrete new products, processes and services that can contribute to economic growth in Italy and Europe while enabling collaboration and synergies between different sectors through the open platform model.

Federated Innovation @MIND intends to go beyond traditional business innovation by encouraging cooperation between different market players and sectors to foster Open Innovation. The public-private innovation model created inside @MIND (Milan Innovation District) has identified Fabrick as a FinTech and financial services leader. As a result, Federated Innovation @Mind and Fabrick have partnered to launch “B2B FINTECH FOR FUTURE”. The “B2B Fintech for Future” initiative is a call for standout European startups that are creating disruptive FinTech solutions in one of the following B2B areas:

  • Billing
  • Payments
  • Credit
  • Prospect and customer data analysis
  • Digitization of the buying/selling process
  • SaaS solutions for specific industry verticals (wellness, hospitality, catering, etc.)

By applying to the “B2B Fintech for Future” challenge via the initiative’s portal, the most promising startups and projects will have the chance to become part of Fabrick’s open financial ecosystem. The “B2B Fintech for Future” initiative will enable Fabrick to welcome the best European startups to its Open Finance ecosystem from the pool of successful applicants. This will support Fabrick’s efforts to continue expanding its network with innovative new FinTechs in accordance with its founding values โ€‹โ€‹of collaboration, openness, and innovation.

Paolo Zaccardi, CEO of Fabrick, said: “The decision to promote the MIND project stems from our open approach, which sees openness and collaboration as engines of growth and development for the entire financial sector and a great resource for end consumers who have an increasing appetite for innovative and customized products and services. MIND also applies this model to other sectors, making the district an all-round innovation hub. Fabrick is fully convinced of the great value of MIND, and we are proud to be in charge of the FinTech vertical and to provide know-how and leverage the network of interdisciplinary relationships developed over the years. Milan once again proves to be a place where it is possible to experiment, work and build together. Against this backdrop, we have launched B2B FINTECH FOR FUTURE, the first of many initiatives that will be organized to help the most promising startups to develop and grow rapidly.”

Tommaso Boralevi, President of Federated Innovation @MIND, commented: “The entire Federated Innovation @MIND ecosystem is progressing at a rapid pace and has launched many projects that will make a fundamental contribution to the Italian and European innovation landscape in the coming years. It is in this context that we created B2B FINTECH FOR FUTURE and launched it alongside Fabrick. It is now well known that FinTech played a primary role in overcoming the crisis triggered by the pandemic two years ago by enabling many small and medium-sized enterprises to obtain financing in a very short time. Now we need to go a step further and try to bring those same companies’ other tools to simplify internal processes and services: from invoicing to payments, from analyzing prospect and customer data to digitizing the buying and selling process, and much more. Our call for startups to join B2B FINTECH FOR FUTURE will make it possible to identify many innovative startups that can support SMEs in the transition towards increased digitalisation, and we are proud that it is happening within Federated Innovation @MIND.โ€

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