Applications for the 2022 Cohort are now closed.
What is the Launch Innovation Programme?
Lloyds Banking Group believe better collaboration with FinTechs (see FinTech Pledge) and InsurTechs is key to delivering exceptional service across the Financial Services market. In turn this will enhance our capabilities to be the best bank for customers – now and in the future. We have a range of strategic business challenges we are looking to solve and we need your help. Launch Innovation Programme offers ambitious companies and individuals the chance to run a proof of concept in partnership with Lloyds Banking Group.
Lloyds Banking Group has committed to becoming a leader in gender diversity and supportive of the growth of companies owned and run by Black heritage business leaders – with this in mind we will actively target, welcome and support applications from women and businesses founded by people of Black, Asian and Minority Ethnic heritage.
Over the course of 10 weeks you’ll refine and test your value propositions; access support and clinics, have access to 12 external business Masterclasses, and pitch your bespoke proposal to the Challenge Sponsors who head up our various Business and Change Units.
Photo by mentatdgt from Pexels
What are we trying to solve?
A sustainable and responsible approach to doing business is integral to everything we do. We aim to Help Britain Prosper by operating as a responsible, sustainable and inclusive Group.
We have over 58,000 Colleagues and are committed to supporting them with the best technology and processes as we move into a new, post pandemic, operating model.
Our Customers' Financial Lives
We operate in an integrated way through a range of distribution channels and brands to ensure our customers can interact with us when and how they want, enabling us to address the needs of different customer groups more effectively.
What can I expect?
If you’re an innovative and motivated company with an interest in the above challenges, apply to join Launch Innovation Programme to gain valuable experience working in partnership with a large corporate, as well as collaborating with us to create a proposal to solve our challenge. For you, being a part of the programme will give you unprecedented access to business leaders, designers, industry experts and mentors, and give you the opportunity to shape a partnership proposal to test with Lloyds Banking Group.
In addition we have partnered with our friends at Growth Builders to deliver a series of 12 Masterclasses to help you develop and grow your businesses. Learn more about Growth Builders and the Masterclasses here.
Here is David from Ideavate, part of the 2021 cohort, who will talk more about the experience.
When you submit your application via the linked form, it will be reviewed by the Lloyds Banking Group Launch Innovation team; supported by our friends at GrowthBuilders. Each application is reviewed by the team and assessed against the relevant challenge. We feed back on every application received.Once the application forms are assessed, we will invite the most relevant solutions for a short demo before making final offers to successful applicants to join the programme.
If your application is successful you will
Develop and prove solutions
Test ideas with target audience
Have access to business support and services
Talk with Lloyds Banking Group senior leadership and market experts
Get access to 12 Masterclass business seminars from Growth Builders
Pitch for a potential partnership with one of the top UK banks
Hear from the programme sponsors
Sustainability Challenge - Jon Sykes, Head of General Insurance Pricing, Lloyds Banking Group
Colleague Support Challenge - Kelly Young, Operations Director for Insurance and Wealth at Lloyds Banking Group
Matt Bedford – Retail Bank, Chief Operating Officer
“Our ability to leverage strategic partnerships to solve the challenges our businesses face will be crucial in driving our growth agenda. The launch programme will allow us to provide focused engagement with potential partners, whilst helping provide them with crucial business development support.”