Finance provider announces return of its UK FinTech Incubator

Leading finance provider BNP Paribas Personal Finance, in partnership with SuperTech WM, has renewed its commitment to drive regional financial services innovation with the return of the Innovation Lab, its UK FinTech Incubator Programme, for a third consecutive year.

As the FinTech industry continues to evolve rapidly, enabling innovation through collaboration is essential to unlocking new opportunities across the financial services sector.

The programme gains even greater strength and momentum with STEAMhouse returning to join BNP Paribas Personal Finance and SuperTech WM as a third key regional innovation partner.

Together, these leading organisations bring complementary expertise, networks, and vision to accelerate innovation and support the future of financial services in the West Midlands, the UK and beyond.

The Innovation Lab is open for applications starting 07 July and is welcoming SME businesses and FinTechs who can respond to this year’s challenge centred around how the sector can use Generative AI to enhance customer communications and insight to drive engagement, understanding and effectiveness.

As part of this fully funded open innovation and co-creation programme, successful applicants will have the unique opportunity to meet and develop digital solutions in collaboration with key leaders in the finance sector, whilst also raising awareness of their business within the West Midlands and FinTech innovation ecosystem.

Businesses enrolled on the programme will also benefit from comprehensive business support services, including a flexible co-working space and innovation tools from STEAMhouse, mentorship from senior financial services experts, proposition pitch opportunities, and personalised 1:1 support.

Dependent on the commercial viability of the solutions developed during the programme, there is a real opportunity to transform these concepts into fully-fledged products.

Following the success of last year’s programme, BNP Paribas Personal Finance UK opted to progress four solutions to trial with its customers via the myCreation app.

Stephen Hunt, CEO of BNP Paribas Personal Finance UK, commented: “Innovation is at the heart of everything we do at BNP Paribas Personal Finance UK. For us to maintain our position as a leader in personal finance, it’s essential that we continue to adopt emerging technologies and embrace new ideas so we can continue to deliver high-quality products and services for our partners and customers.

“The use of AI is on the rise and it’s important that we consider how we can use it to supercharge our operations. I look forward to working with this year’s cohort and our incubator partners to discover how we can use Generative AI to enhance our customer journey.”

Hilary Smyth-Allen, CEO SuperTech WM, added: “Our longstanding partnership and now third Innovation Lab accelerator with BNP Paribas Personal Finance strengthens regional innovation capabilities within the financial services industry.

“Each year, we push ourselves to explore and embrace opportunities from technology and am excited to see where this year’s cohort of SMEs take us as they offer responses to improving customer engagement." 

Patrick Bek, head of Service Innovation and Experimentation at STEAMhouse, explained: “With the accelerating speed of technology, it’s vital that businesses rethink the way they innovate, and look outside of their own organisations to expedite solutions; we call this open innovation.

“We’re delighted to be able to provide the opportunity for SMEs to collaborate with a leading finance provider to share knowledge, learn new methods of innovation, and co-design solutions that deliver impact.”

Applications are open to SME businesses with a digital solution to this challenge, irrespective of their current market but applicants must be willing to be present in Solihull and Birmingham, West Midlands, for key touchpoints throughout the programme.

Deadline for applications is 05 September.

To find out more or apply for the Innovation Lab, visit HERE.

Pictured (L-R): Stephen Hunt and Hilary Smyth-Allen

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