Societe Generale Corporate & Investment Banking (SG CIB) has launched a global markets incubator for Fintech start-ups specializing in market activities.
Image: The registered offices of Societe Generale. Photo: Courtesy of Frederic Humbert/ Wikipedia.org.
The selected Fintechs will benefit from SG CIB’s recognised market expertise, as well as the backing of Le Swave incubator based in La Défense, Paris.
SG CIB is inviting applications from market-dedicated Fintechs to be part of Global Markets Incubator. The incubator will be looking to co-build high-performance offerings, and will be aiming to work with the most innovative Fintechs that add value to services for clients.
The selection process will take place during December 2018, and the six-month incubation period will begin in January 2019.
The selected Fintechs will enjoy access to SG CIB’s global markets’ expertise through close collaboration with its market operators, sales forces, financial engineers and other experts, and will also have direct access to continental Europe’s largest trading floor.
Their base will be at Paris&Co’s offices in conjunction with Le Swave, the incubator solely dedicated to Fintech firms of which Societe Generale is one of the founding partners.
Antoine Connault has been appointed as Head of Global Markets Incubator. He will be based in Basalte at La Défense, the dedicated building for Societe Generale’s market activities.
He will oversee the whole project including the identification and pre-selection, the incubation phase of the Fintechs, and will oversee their development and investor relationships. Antoine Connault reports to Albert Loo, Deputy Head of Sales for Global Markets for which he is in charge of Innovation and Digital.
Global Markets Incubator sponsor Albert Loo said: “Offering cutting-edge and innovative solutions to address our client needs is in Societe Generale’s DNA. With this dedicated incubator, we wish to enable Fintechs specialised in financial markets to turn their ideas into innovative services.
Le Swave director and Paris & Co Fintech business incubator and Edouard Plus said: “We are delighted to work with Societe Generale on this programme dedicated to financial markets.
“We look forward to offering the selected Fintechs our unique incubation expertise, our experience in innovation as well as our facilities to help them develop their models and services.”
The launch of Global Markets Incubator is part of Societe Generale Group’s “Transform to Grow” strategic plan.
Source: Company Press Release