The Investment Association’s (IA) FinTech innovation hub and accelerator Velocity and Brussels-based FinTech ecosystem B-Hive have signed a partnership designed to boost FinTech innovation across the asset management industry by promoting pan-European collaboration.

The partnership signed by Fabian Vandenreydt, executive chairman at B-Hive and Peter Harrison, chair of the IA Board, signals a commitment to a closer relationship between the two organisations with the aim of building a strong international FinTech ecosystem.

As part of the agreement, Velocity and B-Hive will share knowledge and expertise on technology trends and work together on joint events and training, as well as tackling common innovation challenges.

The IA said the partnership marks a key milestone in Velocity’s growing reach. From its official launch last October, Velocity has become a leading centre of innovation for the asset management industry and wider buy-side, attracting more than 80 FinTech firms in the past six months, with five of these forming the first Velocity cohort within the accelerator program.

Alexander de Croo, Belgian Deputy Prime Minister and Finance Minister, said:“I’m very pleased today to witness the Belgian FinTech hub B-Hive partner with the renowned accelerator Velocity. Both hubs’ expertise in RegTech and WealthTech gives the European FinTech ecosystem yet another boost and strengthens the collaboration between Belgium and London-based startups.”

Peter Harrison, group chief executive at Schroders and chair of the IA Board, said: “I am delighted to announce this new partnership with B-Hive. Velocity has quickly established itself as the natural meeting point between cutting-edge FinTech companies and the asset management industry in the UK. The pan-European collaboration with B-Hive will open new avenues for furthering innovation, which will benefit our members and the savers and investors which our industry serves.”

Fabian Vandenreydt, executive chairman, B-Hive said: “Our partnership with Velocity is a great representation of our main mission to build links between the major European FinTech hubs. Velocity’s expertise in the investment management innovation ecosystem space will be a valuable asset for the B-Hive community and we are thrilled to partner with them.”