CashNews.co
Following the success of its UK fintech incubator programme, BNP Paribas Personal Finance UK is bringing four new innovative tech-based solutions to its customers.
Back in January, BNP Paribas Personal Finance UK launched the Innovation Lab in collaboration with SuperTech World Cup and STEAMhouseinviting eight fintech organisations to solve real-life date led challenges set by the finance provider.
Over the last nine months, the cohort has worked with experts the programme’s founding partners, BNP Paribas Personal Finance UK and SuperTech WM, as well as delivery partner STEAMhouse, to develop an innovative solution that will enable the finance provider to use data and insights to deliver more value to its customers and partners.
At a final showcase event, the eight participating companies—Autofile, Inicio, Financial Cloud, Furbnow, CarCloud, Voolu, Paylow, and Wyser—demonstrated their final solutions and reflected on their journey throughout the Innovation Lab.
The event also featured a panel discussion exploring the critical role of innovation in the financial services with BNP Paribas Personal Finance UK Chief Executive Officer Stephen Hunt, Head of UK Strategy and Chief of Staff at BNP Paribas Kyle Zheng, SuperTech WM’s Executive Director Hilary Smyth-Allen and STEAMhouse’s Head of Service Innovation Patrick Bek.
After investigating the commercial viability of the digital solutions developed during the programme, BNP Paribas Personal Finance UK is pleased to announce that it will be taking forward four solutions to trial with its customers via myCreation on the Creation App which has 1M customers registered.
This will include:
- Furbnow’s Home Energy Check Tool, helping to make homes energy efficient without the hassle.
- CarCloud which provides car insurance, finance, admin and running costs in one place.
- Start’s friendly virtual agent Budgie, providing customer with support to complete a detailed affordability form.
- Paylow which analyses people’s habits and needs to provide a proactive autopilot for all recurring expenses.
By incorporating these solutions into myCreation, BNP Paribas Personal Finance UK aims to measure the reception from its customers and test the solutions’ potential to deliver significant value in the financial services sector.
Chief Executive Officer of BNP Paribas Personal Finance UK, Stephen Hunt shared: “As a leading finance provider serving over 4 million customers, it is essential that BNP Paribas Personal Finance UK remains at the forefront of innovation and is constantly looking for new products and services that can make our customers’ lives easier.
“The ability to bring these groundbreaking solutions to our customers showcases the true value of the Innovation Lab programme both to our business, but to the wider financial services sector too.”
Executive Director at SuperTech, Hilary Smyth-Allen commented: “I’ve thoroughly enjoyed seeing both the progress made by this year’s cohort and the pivots they’ve taken since the start of the programme.
“As well as furthering the development of these businesses, the Innovation Lab has highlighted the value of collaborating across sectors to generate new ideas and advance the financial services sector as a whole.”
Vita Woods, Innovation Manager at STEAMhouse said: “Through successful collaboration, the fintechs have been able to develop great products and services which will help to transform the financial services sector.”
BNP Paribas Personal Finance UK remains firm in its commitment to driving innovation and will be joining forces with SuperTech to host a fringe event during Birmingham Tech Week.
The interactive event will be held on Tuesday 22nd October, with BNP Paribas Personal Finance colleagues, SMEs and fintechs exploring mutual opportunities to be leveraged from Gen AI adoption for organisations on a business transformation journey.
Attendees will have the opportunity to participate in networking, listen to presentations, and have 1-2-1 connection sessions with executives at BNP Paribas Personal Finance UK.
Register for the Gen AI event here: BUSINESS TRANSFORMATION, THE OPERATIONAL BENEFITS OF GEN AI — Supertech (supertechwm.com)