CHEMISTRY FOR FINANCIAL SERVICES

MAKING INNOVATION HAPPEN
Open for applications – deadline 2nd October

Sopra Steria have teamed up with the University of Edinburgh (Edinburgh Innovations and Edinburgh Futures Institute) to launch Chemistry for Financial Services.

The Chemistry programme, supported by FinTech Scotland provides a platform for some of the most innovative fintech organisations to work with established technology providers, educational institutions and industry bodies to help financial services companies solve their biggest business challenges.

What is Chemistry?

The Chemistry programme is designed to provide a collaborative platform between fintech organisations and established financial institutions. The aim of the programme is to drive meaningful change in financial services by co-creating, delivering and scaling solutions at pace.

If you are an innovative fintech company the Chemistry programme gives you accelerated access to financial service markets. If you are an established financial services organisation the Chemistry programme gives you innovative solutions to help solve your business challenges.

Laptop computer

What challenges are we helping financial institutions with?

For the first Chemistry programme starting at the end of August 2019 we will be particularly interested in hearing from fintech organisations who can help with improving the mortgage journeys for Sopra Steria’s financial services organisations.

 If you think you can help financial service organisations across the UK solve these challenges, you need to fill in an application form – click here. Key focus areas include:

 

 

Improving the customer experience for mortgage holders incentivising them to maintain their mortgage with the existing lender

Making it easier for the self-employed and small business owners or customers in vulnerable situations to prove their eligibility for a mortgage

Apply here

Key dates in the Chemistry programme for financial services

23rd August: Chemistry programme opens to fintechs

2nd October: Deadline to submit application to participate in Chemistry

Mid October: Shortlisted applicants deliver their ideas presentation to a panel of industry experts and potential customers

End of October: Sopra Steria and selected fintechs kick-off a design sprint at the Edinburgh DigiLab

Mid November: fintechs and Sopra Steria collaboratively pitch the outcome of the design sprint to potential clients

December/January: Refinements made based on feedback and concept is ready for launch

What we offer our fintech partners

Accelerated market access

Sopra Steria has strong business relationships with major banks, building societies and insurance clients across the UK and an unrivalled reputation of excellent service delivery.

Development and growth of your business

We will aim to help you grow, mature, and build your client base by taking you through our proven innovation to in life proposition process. Discover our Digilabs, engage with our experts and improve your market knowledge to uncover business opportunities whilst keeping all of your existing IP.

Engagement and Empowerment of your people

Access our masterclasses, expert contacts and Chemistry champions. Your people will gain deep market insights, an understanding of how to take technology products and services to market at scale and benefit from closer customer proximity.

Increased Financial Services visibility

The opportunity to raise your company’s profile and visibility across Banking, Building Society and Insurance companies at senior decision maker levels.

Rapid Development and scale of a working product

We will take you through design sprints and integration workshops and assist you with launching, scaling and delivery

Innovation and co-creation space

You will have access to Sopra Steria’s Edinburgh offices and the DigiLab for the duration of the programme.

What do we expect from the applicants?

We need full commitment for the duration of the programme, the development of the proposition and have:

Drive to build and rapidly grow your business with a vision of your product, and how it can integrate with Sopra Steria services and drive innovation for our customers

Full founder sponsorship and engagement with availability to attend workshops and meetings to develop the proposition and participate at the concept design stage

Developed a technology product or service to at least an MVP and preferably have already made a sale

Sign an NDA to ensure that joint work remains within the business relationship, be prepared to build a Teaming Agreement on how we will work together, take the solution to market, engage with customers and develop the commercial model

Willingness to sign specific contracts that reflect the solution/client we will be working with.

Willingness to sign undertake Sopra Steria’s additional due diligence checks

Successfully complete Sopra Steria’s supplier assessment process

For more information about the Chemistry programme for Financial Services please contact chemistry@soprasteria.com

 

 

What are the benefits for established financial firms?

Supplier Efficiency and Economies of Scale

The Chemistry programme will ensure that companies on the programme are of a high quality, reducing the level of risk to customers who want to proceed to a pilot stage.

Better Commercials

As part of the programme you will have the opportunity to explore broader commercial applications of the tech/idea.

Quality Assurance

Sopra Steria will complete high-level feasibility assessments to make sure that the concept is designed to fit your existing IT architecture and business processes. All concepts which we present to you will have been created in collaboration with industry-experts, world leading academics and tested with end users before going live.

Improved speed-to-market

You will be able to take advantage of our fintech partners niche expertise, University of Edinburgh’s research and Sopra Steria’s System Integration capabilities. Giving you access to solutions your business needs to overcome it’s challenges in much quicker timeframes compared to in house projects.

For more information about the Chemistry programme for Financial Services please contact chemistry@soprasteria.com