FinTech Scotland joins forces with banking giant Lloyds 

FinTech Scotland has partnered with banking giant Lloyds to give financial technology firms globally the opportunity to collaborate with the bank.

Working with the national cluster organisation for fintech firms in Scotland, the major banking group is inviting fintech’s from all around the world to join the second cohort of its ‘launch innovation programme’.

This follows the success of the initiative last year, which saw 12 fintech firms selected from Scotland and Europe.

Lloyds is seeking fintech partners to help it achieve its sustainability goals, improve customers’ financial lives, and support its staff 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 initiative aims to create collaboration opportunities between the banking group and fintech small and medium-sized enterprises (SMEs) to enable faster innovation and deliver for customers.

Nicola Anderson, chief executive of 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, wellbeing and sustainability. I’m looking forward to reading the applications.”

David McLeay, innovation product owner for insurance and 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.”

Interested firms can learn more and apply by visiting here before Friday 1 April.