Lloyds’ “Launch Innovation” Program Seeks Fintechs

Lloyds Banking Group is letting people sign up for its “Launch Innovation” program to look for possible partnerships with fintech companies.

The 12-week programme gives startups a chance to get help from experts at Lloyds Banking Group, which can help them grow their businesses. At the end of the course, the best applicants will be asked to run a business experiment that could lead to a future partnership.

Those who are chosen to join the cohort will have access to senior management and subject matter experts who will share their knowledge about working with large financial institutions.

The Group’s FinTech Investment Team will also look at the applications. This team has money to invest in businesses from their early stages to their Series B stages.

During last year’s program, the investment team gave the driving payments app Caura a £4 million investment.

Kirsty Rutter, who works as the director of fintech investment 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.”