NatWest Group is launching a Fintech Growth Programme, to help startups to lean on the resources, expertise and networks of an established high-street bank to help them scale-up and drive the bank's innovation pipeline.
NatWest plans to select five fintechs who offer technology that addresses specific problems in the payments space. The participating fintechs should be pre-Series A UK based startups looking to develop their business ideas. Then, through ten weeks of workshops, mentoring and coaching, NatWest aims to work with these fintechs to co-create systems that can be deployed by the bank.
David Grunwald, director of NatWest Innovation, says: “This programme lays a pathway to create better outcomes for our customers. Working this closely with fintechs and UK entrepreneurs strengthens our ability to be future focused, while supporting the growth of the innovation economy."
To deliver the programme, NatWest is working with Aspire - a third-party consultancy that specialises in curating curriculums and delivering support to champion startup growth.
Mark Brant, chief payments officer at NatWest says the initiative will allow fintechs to work collaboratively with NatWest’s Innovation team and senior decision makers across the bank while benefiting from a curated scale-up curriculum and opportunity to build a meaningful network.
“Innovation and collaboration are fundamental to growth, especially in a challenging commercial environment," he says. "This programme champions NatWest’s innovation by working with fintechs to co-create solutions to lead the future of banking.”