20 September 2017
Visit http://response.ncr.com

Lloyds Bank launches mentoring service for fintechs

18 July 2016  |  7871 views  |  0 lloyds logo

Lloyds Banking Group has become the latest UK high street bank to launch a mentoring service for fintech startups.

Lloyds mentoring scheme will be based on collaborations with fintech accelerators Innovate Finance and Startupbootcamp, both of which will help the bank to identify suitable candidates.

Marc Lien, Lloyds director of Innovation and Digital Development, believes the scheme will be mutually beneficial. "We can also learn lessons from fintech firms' successes and failures that will help shape and inform our digitisation journey."

Lloyds has embarked on similar initiatives in the recent past, providing both a range of experts and floor space to savings app Swave, a winner of the Innovate UK Financial Literacy Challenge. Other UK banks such as Barclays and Royal Bank of Scotland have also sought to work with the startup scene.

The launch of the mentoring scheme follows a difficult few weeks for Lloyds. At the end of June the bank announced a series of branch closures and job cuts. And just last week the bank's online banking service suffered intermittent outages.

Lloyds was then hit with another scandal when a whistleblower alleged that bank staff have been mis-selling fee-based, packaged bank accounts from as far back as 2012.

The whistleblower, speaking to UK tabloid the Mail on Sunday, alleges that staff were bullied and threatened if they failed to hit their sales targets and that vulnerable, financial illiterate customers were targeted in tactics he described as 'shocking and monstrous'.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Lloyds axes IT staff, closes 23 branches

Lloyds axes IT staff, closes 23 branches

29 June 2016  |  6055 views  |  1 comments | 10 tweets | 9 linkedin
Distressed businesses create RBS whistleblower website

Distressed businesses create RBS whistleblower website

25 May 2016  |  6445 views  |  2 comments | 5 tweets | 2 linkedin
Lloyds runs Digital Expert Days for marketing staff

Lloyds runs Digital Expert Days for marketing staff

23 May 2016  |  7345 views  |  0 comments | 6 tweets | 2 linkedin
Lloyds to eliminate 625 jobs as deeper cuts loom

Lloyds to eliminate 625 jobs as deeper cuts loom

22 April 2016  |  4874 views  |  0 comments | 5 tweets | 2 linkedin
Barclays opens Eagle Labs to help UK startups take flight

Barclays opens Eagle Labs to help UK startups take flight

09 March 2016  |  7802 views  |  0 comments | 16 tweets | 8 linkedin
Innovation types - Lloyds is hiring

Innovation types - Lloyds is hiring

01 March 2016  |  6327 views  |  2 comments | 1 linkedin
Lloyds launches Digital Banking Hub

Lloyds launches Digital Banking Hub

18 January 2016  |  20767 views  |  6 comments | 34 tweets | 35 linkedin
Lloyds creates digital skills training course for IT staffers

Lloyds creates digital skills training course for IT staffers

22 October 2015  |  8280 views  |  0 comments | 16 tweets | 10 linkedin
Lloyds challenges student coders to develop gamified banking apps

Lloyds challenges student coders to develop gamified banking apps

20 April 2015  |  8086 views  |  0 comments | 15 tweets | 9 linkedin
Lloyds and AmEx back fintech startup competition

Lloyds and AmEx back fintech startup competition

04 March 2015  |  12036 views  |  0 comments | 20 tweets | 2 linkedin
Lloyds commits £1 billion to digital amid massive job cuts and branch closures

Lloyds commits £1 billion to digital amid massive job cuts and branch closures

28 October 2014  |  16812 views  |  0 comments | 20 tweets | 19 linkedin
NatWest and RBS to launch accelerator hubs for entrepreneurs

NatWest and RBS to launch accelerator hubs for entrepreneurs

29 September 2014  |  5584 views  |  0 comments | 10 tweets | 3 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comdownload the paper nowvisit www.sibos.com

Who is commenting?

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
10790 views comments | 24 tweets | 39 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10349 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9171 views comments | 6 tweets | 3 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
7650 views comments | 5 tweets | 4 linkedin
ING moves into digital wealth management with Scalable CapitalING moves into digital wealth management w...
7487 views comments | 14 tweets | 15 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job