In our new blog series, we introduce mentors that will support the first FinTech & CyberSecurity class in Amsterdam. When the program kicks off in January, they will guide the startups and help them with various business aspects ranging from team to business modeling.
For the second post from the series, we had a chat with Cor Jan Dasselaar, an expert in financial services who is passionate about startups and is ready to support them in their accelerator journey.
Could you please tell us a little bit about yourself?
I am an economist and accountant by education. I have worked in the international financial industry for 30 years, both as a regulator and as a Compliance Officer. As a Compliance Officer, I was involved in the selection and deployment of Anti Money Laundering and Transaction Screening systems in various financial institutions. From 2006 – 2011, I was chairman of the Compliance Officers Association that had 450 members.
My wife and I have three kids. I love football (as a coach of my two boys and as a supporter), skating, hiking, and skiing.
What’s your connection to the FinTech startup ecosystem?
Every company in the world once was a startup, and I am intrigued by startups! They create and build successful businesses from scratch. Private enterprise makes it possible for a society to prosper. Winston Churchill made this quite clear when he said: “Some people regard private enterprise as a predatory tiger to be shot. Others look on it as a cow they can milk. Not enough people see it as a healthy horse, pulling a sturdy wagon.”
FinTech & CyberSecurity startups are essential in dealing with some of the challenges our society faces, such as lack of trust in the financial industry and the increasing dependence on the Internet. I am keen on finding out which bright ideas will restore this trust and will keep the Internet afloat.
What are some of the major trends and developments that you see in the industry that are relevant to you and could have a major impact in the industry?
As a Governance, Risk and Compliance consultant, I frequently have contacts with companies that introduce new techniques for the financial industry. Artificial Intelligence is one of these new techniques. I expect Artificial Intelligence to have a major impact on how financial institutions collect information in order to better manage non-financial risks including integrity risks. Measured by sheer possibilities and low costs, Artificial Intelligence is, in my view, disruptive by nature.
With regulators, I discuss the challenges FinTech startups face when they have to be in compliance with existing regulations. These regulations were introduced in a different time period and written for existing companies, not for the startups of today. Divergence is essential for the population to flourish. The financial industry is no exception. The Dutch Central Bank has recently introduced an Innovation Desk to find the right answers for dealing with FinTech startups.
What would be your personal contribution to the program and the startups?
My personal contribution to the FinTech startups would be adding value (in whatever way, shape or form) in the following segments:
– Matching demand and supply of money or cash flows;
– Providing insurance services that smooth out life’s sharp edges;
– Enabling (international) transfers of value.
Next to identifying the added value identifying the risks involved is essential.
You may be an excellent skater, but when the ice is too thin, you should wait for another frosty night before you start skating.
I also hope to add value in helping to find the right balance between opportunities and threats.
Why do you want to help startups? Is there something that inspires you?
In my view, restoring trust in the financial industry is, perhaps, more likely to come from the FinTech startups than from existing financial institutions. Startupbootcamp is a catalyst to make that happen.
My first private angel investment was in a startup from Startupbootcamp Amsterdam. My experience as a private angel investor is indeed finding a balance between opportunities and threats. As for Cybersecurity, or Cyberinsecurity, that is one of these threats.
Our society is the Internet addict. What would happen if one day the Internet does not function properly, or a systemic bank has been hacked? Therefore, part of my life I devote helping Belleron, a company that has developed software to detect cyber attacks in systemic banks. We explain to regulators that these risks are real. What if a cyber attack is not about money, but about a demonstration of power?
Let’s find answers and opportunities together. I am looking forward to exciting startup months!
More from Startupbootcamp FinTech & CyberSecurity:
Applications for the FinTech & CyberSecurity accelerator program are now open! Apply now to get intensive mentorship, office space, access to our broad network and support of the major brands in the industry including Rabobank, ABN AMRO, ING and SNS Bank.