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Lloyds seeks out fintechs for 'Launch Innovation' programme

Lloyds seeks out fintechs for 'Launch Innovation' programme

Lloyds Banking Group is opening application for its 'Launch Innovation' programe to discover potential fintech partnerships.

The 12-week programme provides an opportunity for startups to benefit from expert guidance from Lloyds Banking Group, helping them further develop their business. At the end of the course, the most successful applicants will be invited to run a commercial experiment with a possible potential further partnership.

Those selected to join the cohort will have access to senior management and subject matter experts, who will give insights into working with large financial institutions.

Applications will also be reviewed by the Group’s FinTech Investment Team, who have funds to invest in seed to Series B businesses.

Last year's programme saw driving payments app Caura walk away with a £4m investment from the investment team.

Kirsty Rutter, fintech investment director at Lloyds Banking Group, says: “We have an ambition to become the best bank for fintech and InsurTechs to work with and we recognise that better collaboration is key to delivering exceptional service and enhancing our capabilities."

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