LEADING FINANCE PROVIDER CALLS FOR FINTECHS TO JOIN INCUBATOR PROGRAMME TO DRIVE INNOVATION

Mon, 05 Jun 2023

Leading finance provider, BNP Paribas Personal Finance UK, has announced the extension of its partnership with SuperTech — an organisation supporting tech innovation in the West Midlands — and is calling for Fintechs to join its next incubator programme to drive innovation in the financial services sector.

Following the success of the first programme where BNP Paribas Personal Finance UK implemented digital solutions to solve complex challenges around data visualisation, automated underwriting and chatbots in collaboration with Fintechs, the finance giant is looking to solve two new challenges.

These are open finance and new sources of data and insight following developments in the wider fintech industry, with attention turning to open finance, fintech for good, and quantum leaps.

Data and digital transformation is a fundamental part of BNP Paribas Personal Finance UK’s strategic plan and working with fintechs on these topics will help further fuel growth in these areas.

Commenting on the announcement, Hilary Smyth-Allen, Executive Lead at SuperTech, said: “The demand led innovation programme embodies the value from serendipitous moments that stem from facilitated exchange of knowledge and ideas that produce brilliant outcomes. None of this is possible without anchor institutions taking the lead and so we’re very excited that BNP Paribas Personal Finance UK, as the originator of the first fintech programme in Birmingham  are returning for more challenges this year.

“In our role as regional representatives in the FinTech National Network and been part of UK Fintech Week, the challenges set by BNP Paribas Personal Finance UK couldn’t be more relevant. Through these new challenges, the organisation can share knowledge and gain insight from the West Midlands Fintech community — which is estimated to have around 11,000 employees, generating almost half a billion to the UK economy.

“There are also great benefits for Fintechs involved in this programme. Having access to a global bank like BNP Paribas Personal Finance UK and their knowledge of the sector will serve as a catalyst for innovation, accelerating the development of their Fintech solutions.”

Stephen Hunt, CEO of BNP Paribas Personal Finance UK, added: “After more than 30 years in this business, I can’t recall a more exciting time for the financial services sector. By engaging with Fintechs, we have the opportunity to explore and implement different ways of working, using data and technology to accelerate innovation.

“As 2023 marks our 50th anniversary, we’re planning big transformations in our digital, data and decisioning capabilities, to boost innovation within our business and help drive our partnerships forward. The SuperTech incubator programme, which transforms great ideas into reality, will help us achieve this and we can’t wait to see what innovative solutions the Fintechs propose to help us turbo-charge our business.”

Fintechs interested in collaborating in the upcoming challenges for the next incubator programme can express their interest by emailing hello@supertechwm.com.