Isabel launches Kube, the platform for verified corporate data
Isabel focusing on its new vision to accelerate the growth of the Belgian digital economy.
Each day, Isabel handles more than 8 billion euro - which on an annual base is almost four times the size of Belgium’s overall GDP (Gross Domestic Product). Today, the company provides more than 50,000 companies with access to a network of 2,000 banks.
Ever-growing digitalisation in the financial world and the accompanying broader regulatory environment (PSD3, eIDAS, Digital Act, Data Act, NIS2, DORA, etc.) in Europe pose major challenges for a great many financial players and businesses.
So, to speed up the growth of the digital economy in Belgium, Isabel is continuing to fine-tune its strategic focus. The business that supports the digitalisation of accounting firms was sold recently to Wolters-Kluwer. Now, with the launch of Kube – a platform for verified corporate data – Isabel has taken its latest ambitions straight into top gear.
From “Corporate Data” to “Verified Corporate Data”
Integrated financial processes need consistent and accurate business data to be able to operate efficiently. If that data is unreliable or inaccurate, then wrong financial decisions are likely to be made. This in turn can result in operational risks, such as incorrect payments, accounting errors and compliance problems. Inaccurate data also disrupts the ability for processes to be automated or digitised.
Kube has been designed to become the leading Belgian reference platform for the exchange of verified coprorate data. Kube will help companies to avoid having to keep providing the same data over and over again, while at the same time allowing financial players to reuse data that has already been verified recently by another party. Today, there are already 100,000 companies on the Kube platform and this number will rise to over 700,000 entities by the end of 2025 through the collaboration of the 4 big banks in Belgium, which helped shape the initiative from the outset.
Kris De Ryck, CEO of Isabel “In our digital society, more and more data is being exchanged between companies, financial players and the government. An exchange platform such as Kube, where accurate and verified data can be exchanged easily, securely and with respect for all privacy rules, can make an important contribution to accelerating Belgium's digital economy.”
From ‘open banking’ to ‘embedded banking’
Increasing numbers of companies need seamlessly integrated payment functionalities as part of the software they use every day to manage their business effectively. Companies that operate with multiple banks often find themselves having to deal with different systems and standards. This can lead to complexities in centralising payment data and an increased risk of errors.
In past years, Isabel has focused strongly on integrating complex financial processes in business software. For larger companies, this is done via Isabel Connect, the integrated version of Isabel 6, which is the platform currently used by 70,000 professionals in 20,000 companies. SMEs and freelancers use Ponto Connect, which has become the leading open banking platform in Europe for software providers and businesses, reaching more than 1,800 banks in 15 European countries.
Effective protection against fraud and cybercrime
The current explosive growth in digital data is also increasing susceptibility to fraud. Companies and financial institutions are required to store and exchange increasing amounts of data. This significantly increases the potential impact of a data breach or other forms of cybercrime.
With the IntelliSuite real-time fraud monitoring engine, Isabel has a unique asset for protecting businesses and financial institutions against fraud and cybercrime. This enables us to provide companies, that use our payment solutions, with the peace of mind they are seeking to conduct their transactions in complete security in an increasingly hostile world.
Kris De Ryck, concludes “Our focus for the future is integrally on integrated multibank payments, verified business data and fraud protection for companies of any scale. At Isabel, we believe in ecosystems where, through collaboration, we create added value for companies, the financial world and for society as a whole.”
