The second ERSTE BankSpiration conference took place on February 9 with the collaboration of Union Insurance and DayOne Capital.
The goal of the program is to foster innovation inside the organisation and help to accelerate digital transformation via collaboration with European fintech and insurtech companies.

As György Simó the program’s leader from DayOne said:

 “The program is a unique opportunity to experience the cooperation interface between a financial enterprise and dynamic startup organisations. This makes it exceptionally valuable for us and Erste as well.”

At DayOne we screened nearly 700 companies for the second Erste Bankspiration project, looking for fintech and insurtech solutions to expand and improve Erste’s and Union’s services.

218 companies passed the first filter as ERSTE was looking for specific use cases and maturity stages, including the following:

(1) enhancements to Erste's digital platform, George;
(2) bank insurance;
(3) wealth management;
(4) solutions for the SME sector;
(5) digitization of business processes;
(6) digitization of bank branches.

Erste and Union invited 27 companies to meet their respective departments to better understand the potential upsides of a collaboration.

4 startups were selected to present at the closing conference, where they were introduced to Erste's and Union's leadership for possible partnerships and cooperation. The selected startups were:

InvestSuite: a wealth management platform start-up.

Econans: accelerates green transition for homeowners with anal

Companjon: develops automated, transaction-driven insurance offers.

Amodo: provides usage-based insurance products using smartphone telematics.

The screening, the series of workshops and meetings with Erste, Union and the startups lasted over a year and the program were crowned by the conference on the 9th of February at BMC in Budapest.

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