Our network of partners
Successful innovation needs collaboration. It’s something we can learn from, which is why at ABN AMRO we actively seek out partnerships with other businesses. We believe that an innovation network delivers growth, acceleration and renewal. A selection of our partnerships is described below.
Digital Asset Holdings
Digital Asset Holdings (DAH) is an American technology company which develops blockchain technology. It’s called Distributed Ledger Technology, and makes settlement of digital transactions smoother and safer with lower costs, fewer errors and less risk.
ABN AMRO is one of the partners that has invested in DAH. We believe that new technology will play a key role in innovations in the financial ecosystem. Whether we’re talking about developing new products and services or helping international financial markets run more efficiently, our clients are the central focus in everything we do.
Linux Foundation Hyperledger Project
We are a founding member of the Linux Foundation’s Hyperledger Project. Many of the world’s best developers and biggest companies are working together with this organisation, contributing their expertise in open source development. By building ecosystems, the Foundation is hoping to accelerate the development and commercial application of innovative technologies. The technology will make it possible to record, keep track of and authorise digital financial transactions safely and efficiently. As well as technologies, the Linux Foundation also delivers tools, training and events.
The first investment made by the Digital Impact Fund was in Tink, a Swedish fintech. ABN AMRO and Tink carried out an earlier pilot involving Grip; a handy financial app which allows clients to keep track of their income and outgoings. Both parties were extremely satisfied with the collaboration and were keen to continue it. Along with the Scandinavian bank SEB and two Swedish investment companies, ABN AMRO is currently one of the four parties that has invested in Tink.
This partnership keeps us closely involved in the innovative power of Tink and means we are better placed to take advantage of digital opportunities for banking. Our goal is to be able to offer more original online services and products more quickly. So that we can grow along with the needs of our clients.
ABN AMRO became a member of the financial innovation company R3 at the end of 2016. R3 heads up a consortium of more than 75 leading financial institutions throughout the world. The aim of this collaboration is to design and produce advanced blockchain and other technologies, and so to help financial market move ahead.
To achieve this, ABN AMRO works intensively with the other members of R3, experimenting, researching, designing and developing technologies. The biggest advantage of this way of working is that all of the partners are both developers and end-users. That means we build technologies which we will ultimately use ourselves.
Delft University of Technology (TU Delft) is also working in partnership with ABN AMRO on the development of complex blockchain applications. The University has been carrying out research on blockchain applications since as far back as 2007 – at that time the discipline was called ‘distributed accounting systems’. The TU Delft research focuses on practical applications: next-generation technology that can reliably handle lots of (dummy) data and lots of users. ABN AMRO staff are also following training courses in the Blockchain Lab at the University.
The former branch of the Spaarbank savings bank on Bloemenmarkt in Amsterdam was transformed in 2016 into Tech Quarters (TQ): a breeding ground that offers optimum conditions for ambitious start-ups to build their businesses. In partnership with Google, Booking.com, The Next Web and KPMG, ABN AMRO is helping these innovative entrepreneurs to grow.
The formula on which the ‘co-working space’ is based is a simple one: bring the right businesses, knowledge and resources together in one place and growth and innovation will follow automatically. The start-ups initially work together, but can also draw on the expertise of the different partners. They can also take advantage of the ‘start-up liaison’, an enterprising employee from outside the bank who immerses themselves on a daily basis in the questions, wishes and needs of the residents. Over time, between 100 and 150 start-ups will set up at TQ, which offers an area of 6,000 m².
ABN AMRO has been a founding partner of HighTechXL since its inception in 2013. Other partners include Philips, ASML, BOM Capital and Brainport. HighTech XL is a revolutionary international tech hub which carries out successful accelerator programmes at its own offices and on location at large companies. The HighTechXL team is made up of entrepreneurs and innovation managers with both start-up and corporate experience.
ABN AMRO and HighTechXL joined forces in June 2016 to launch Econic, the start-up accelerator that brings together the worlds of fintechs and the bank. Econic operates entirely on the principles of ‘open innovation’. Staff of ABN AMRO and external companies are given all the space they need to devise, test and develop new applications or products. As a result, we are able to offer our clients new, intelligent and sustainable solutions in a relatively short time.