BNP Paribas Personal Finance UK has announced the return of its FinTech Incubator Programme for a third consecutive year.
The bank’s UK and Irish consumer finance subsidiary said that this year its Innovation Lab, which it will run alongside partners STEAMhouse and SuperTech WM, focuses on how the sector can use generative AI (genAI) to boost customer communications and insight to drive engagement, understanding and effectiveness in the West Midlands and wider UK.
It said that successful applicants will be able 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 have access to 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.
BNP Paribas Personal Finance added that depending 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.
“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," said Stephen Hunt, chief executive, BNP Paribas Personal Finance UK. “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.”
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