FINTECH INNOVATION CHALLENGE

SuperTech supports technology-led innovation challenges to drive growth across the region and beyond.

ARE YOU A TECH INNOVATOR WANTING TO COLLABORATE WITH LEADING FINANCIAL SERVICES PROVIDER, BNP PARIBAS PERSONAL FINANCE IN A CULTURE OF OPEN INNOVATION AND CO-CREATION?

CHALLENGE FOCUS: HOW MIGHT WE USE GEN AI TO ENHANCE OUR CUSTOMER COMMUNICATIONS AND INSIGHT TO DRIVE ENGAGEMENT AND EFFECTIVE ACTIONS?

APPLY NOW!

WEBINARS FOR FURTHER INFORMATION ARE TAKING PLACE ON 5th AND 19th AUGUST 12-1.30pm

PROGRAMME DETAIL

Data and digital transformation is a fundamental part of BNP Paribas Personal Finance’s strategic plan and this year’s challenge centres on how the sector can use Generative AI to enhance customer communications and insight to drive engagement, understanding and effectiveness in two key areas:

Content creation: Generating content for communications to aid customer understanding and effective actions to drive good outcomes in line with Consumer Duty. This may include new formats of communication including video, and must align with consumer Tone of Voice. e.g.  

“I spend hours copywriting or editing emails to make sure they are in plain English, in line with Consumer Duty and our Tone of Voice - there must be a better way!"“

Language that customers speak: solutions that makes it easy for customers to read and understand communications, for example, if English is not their first language or they may not be so financially literate. e.g.

“Our customers come from different cultures with different first languages - how can we make it easier for customers to understand our comms and be more personal?”

Challenge focus

"How might we use Gen Al to enhance our customer communications and insight to drive engagement and effective actions”

Up to ten applicants will benefit in many areas, including the opportunity to collaborate with BNP Paribas Personal Finance in a culture of open innovation and co-creation.

This fully funded programme offers comprehensive business support services, including a flexible co-working space from STEAMhouse, innovation tool and 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.

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.

KEY DATES

The programme starts on 16th September with in person sessions at BNP Paribas Personal Finance new office headquarters in Solihull.

Throughout the programme, there will be dates where in-person participation is required. As well as the kick off on 16th September, other key in-person dates are a mid-point check in on 23rd October as part of Birmingham Tech Week and the final Demo Day on 16th December.

WHY SHOULD I PARTICIPATE? 

  • Collaborate and Learn: Access to expertise and skills development opportunities in a broad range of areas.

  • Gain insights and learn new methods of innovation to help you develop something new.

  • Co-creation with BNP Paribas Personal Finance.

  • Get practical, useful and actionable feedback from subject matter experts to help grow your business.

  • Test & Validate Your Technology: Develop and retain your IP.

  • Expand your network: Create new connections and meaningful opportunities for collaboration within the local ecosystem.

  • Gain Market Credibility; Strengthen your position as a trusted FinTech provider.

outside of BNP Paribas Personal Finance office view from the outside, showing an ultra-modern building.

BNP Paribas Personal Finance UK Headquarters: exterior

BNP Paribas Personal Finance UK Headquarters: interior

PARTICIPANT CONSIDERATIONS

  • There are a number of key dates and in-person events involved in the programme. Please note them below.

    • 5th and 19th August: Information webinars for prospective applicants to the programme

    • 5th September: Applications close

    • 16th September: Programme Launch. In-person all day event for programme participants. Location BNP PAribas Personal Finance offices in Solihull

    • 23rd October: Mid-point in=person event as part of Birmingham Tech Week Location TBC

    • 16th December: Showcase day. In-person all day event for all programme participants. Location BNP Paribas Personal Finance offices, Solihull

  • This Innovation Lab does not provide the following:

    Guaranteed procurement or a contract at the end.

    Guaranteed access to sandbox environment for testing.

    Direct access to customer data.

  • BNP Paribas Personal Finance is a market leader specialising in retail finance, motor finance and personal loans, with over 50 years of experience in the UK. Through its consumer brand ‘Creation’ BNP Paribas Personal Finance supports many of the UK’s leading brands including Currys, John Lewis, Dreams and B&Q, providing innovative solutions to drive sales and build customer loyalty. It brings global expertise, innovative thinking and valuable customer insights, fuelling business growth for over 300 partners, and helping 4 million customers to buy the things they want through helpful and responsible finance.

    Customers are acquired through BNP Paribas Personal Finance when they purchase products (such as consumer electronics, kitchens, beds, sofas or cars) and their finance is managed through the Creation Finance App. Once registered, customers can see their balance and make payments.

    The Creation Finance App is at the heart of the business in the future where customers can not only manage their accounts but more importantly learn about additional services and experience value added services that drive engagement and usage of the App. The challenge therefore focused on opening up the opportunity to collaborate in the pursuit of this business ambition.

Read below for points to note and key dates and background to BNP Paribas Personal Finance.

PROGRAMME APPLICATION

  • "The Innovation Lab accelerator in partnership with BNP Paribas Personal Finance, SuperTech and STEAMhouse provided the opportunity to live-test a new proposition back in 2024, and that early product validation was essential in our next steps as a business."

    Rachel Curtis, CEO Inicio Ai

  • 100% of participants agreed that the programme: provided useful insights and knowledge; created new connections and meaningful opportunities; supported business growth; and introduced new methods of innovation

    2024 Cohort Feedback

HOW DOES THE INNOVATION LAB WORK?

FinTech is a rapid accelerating industry and an intrinsic way to deliver financial services in the UK. But not all of the best solutions to challenges faced by financial institutions start as a fintech business or application.

BNP Paribas Personal Finance recognised this phenomenon and partnered with SuperTech and STEAMhouse to create this exclusive incubator programme.

Prior to the public launch of the challenge, the definition and focus for it is aligned to strategic priorities and to ensure a clear and focused value proposition.