Looyds has been a founding partner of the London programme since its inception three years ago. This year, two members of Lloyds’ staff were seconded to firms participating in the three-month accelerator programme as ‘executives in residence’.
Jehangir Byramji, senior innovation manager and fintech lead at Lloyds, says: “The Group sees huge value in startup accelerators that are working with a tailored group of corporate partners. With this goal in mind, the startups and the partners learns from each other and amongst themselves to foster collaborative working, allowing for better experimentation and proposition development.”
The experience has paid off for the bank, which is collaborating further with two of this year’s start-ups; MoBILLity and Enterprise Bot.
The bank says it will begin testing MoBILLity’s chat-based service for saving money on recurring bill payments through customer trials. It also plans to run a pilot of Enterprise Bot’s white label AI-powered virtual assistant, which is claimed to reduce call centre costs by 85% and customer wait-times by 90%.