Lloyds Banking Group is now accepting applications for its ‘Launch Innovation’ program, aimed at identifying potential fintech partnerships.
The 12-week program offers startups the chance to receive expert guidance from Lloyds Banking Group, assisting in the further development of their businesses. At the conclusion of the course, the most promising applicants will have the opportunity to conduct a commercial experiment, which may lead to a future partnership.
Participants in the cohort will gain access to senior management and subject matter experts, providing valuable insights into collaborating with large financial institutions. Additionally, applications will be evaluated by the Group’s FinTech Investment Team, which is prepared to invest in seed to Series B businesses.
In last year’s program, the payments app Caura secured a £4 million investment from the team.
Kirsty Rutter, fintech investment director at Lloyds Banking Group, stated, “We have an ambition to become the best bank for fintech and InsurTechs to work with, and we recognize that better collaboration is key to delivering exceptional service and enhancing our capabilities.”