Lloyds Banking Group and FinTech Scotland launch new innovation programme
Bank of Scotland owner Lloyds Banking Group and FinTech Scotland have launched three new strategic innovation challenges.
The duo has opened the second cohort of its Launch Innovation Programme, which invites fintechs from all over the world to take part.
This follows the success of the first Programme that saw 12 fintech firms selected, from Scotland and Europe. This year the group is hoping for many more continuing to show the continued commitment of Lloyds Banking Group to partner with fintech businesses.
The bank is seeking fintech partners to help them achieve their sustainability goals, improve customers’ financial lives and support their colleagues in a post-Covid pandemic world.
Successful fintech applicants will have 10 weeks to refine and test their innovative solutions, working in collaboration with colleagues across the bank. This will include direct access to challenge sponsors and mentors in the bank, as well as business development support, clinics and external business masterclasses.
The Launch Innovation Programme is an initiative that aims to create collaboration opportunities between the banking group and fintech SMEs to enable faster innovation and deliver for customers.
Interested firms can learn more and apply by visiting www.fintechscotland.com/launch before the 1st of April. Lloyds Banking Group are committed to enabling greater diversity and will actively target, welcome and support applications from women and businesses founded by people of Black, Asian and Minority Ethnic heritage
Commenting on the launch, Nicola Anderson, CEO at FinTech Scotland, said: “Lloyds Banking Group Launch Innovation Programme is a perfect example of how collaboration can deliver innovation and better outcomes for all. Amongst other things I was delighted to see three innovation themes this year which demonstrate how fintech can help with financial matters, well-being and sustainability. I’m looking forward to reading the applications.”
David McLeay, innovation product owner for insurance & wealth transformation at Lloyds Banking Group, added: “We are super excited to open our Launch 2022 programme as it’s a key part of our strategy to improve collaboration with fintechs and harness the power of Innovation.
“The 12 companies from the initial 2021 cohort delivered amazing ideas and experiments for our colleagues and customers. This year we are looking to build on that with additional investment and scale to identify up to 24 partner companies across a broader range of business challenges.”