David and Goliath - The start-ups solving tomorrow’s problems
The Accenture FinTech Innovation Lab is an annual 12-week programme that brings together early stage financial technology companies (start-ups) and the world's leading financial institutions.
It’s an opportunity for the participating start-ups to work with potential future customers in a trusted, collaborative, non-sales environment. They can validate propositions, gain valuable insights into the financial services industry and develop strong relationships with senior industry executives, all of which accelerate their progress.
Entrepreneurs developing potentially game-changing technologies for financial services - particularly in the areas of big data and analytics, mobile and wireless, payments, risk management, security, compliance, and social media and collaboration technologies - are selected to join.
Nationwide Building Society has supported this mentoring programme for the last four years. Their Innovation and Venturing team will invest in and nurture new businesses developing ground breaking solutions to problems many people haven’t yet realised they are going to face in three or five years’ time. Both big business and small start-ups find they have much to learn from these partnerships.
Recently, six of the companies currently working with Nationwide visited their head office to pitch their ideas to employees. Amongst them were a new payment network designed around Open Banking, and a system which helps automate household bill management, saving people time and money on their utilities. The event prompted lots of questions and insightful suggestions, which are now being fed into the developments.
Andrew Lowson is part of Nationwide’s Technology Development Programme, a two-year workplace course for those wanting to pursue a career in technology. He said:
“ The Fintech Marketplace was a great opportunity to see some of the ideas and concepts we have discussed and worked on in TDP projects come to life with real start-ups. Our innovation project in the summer was based around open banking and big data, and it was good to see this was the foundation of some of the start-ups propositions. Activity like this keeps us connected with the cutting edge in technology. ”
If you have a passion for technology, find out more about careers at Nationwide.