Lloyds Banking Group has opened its doors to UK start-up Swave. The fledgling fin-tech company will benefit from the bank’s digital experts for a period of 12 weeks.
Llloyds Bank has been on a spree of-sorts recently, launching a number of digital propositions in the last few months. The bank is running in-house innovation labs to test and assess potential fin-tech products and services, with customers.
“Having supported Innovate UK’s innovation challenge” said Marc Lien, Lloyds Banking Group’s Director of innovation & digital support, “we were able to see first hand the fantastic potential that Swave’s app will provide to help encourage regular savings and people to manage their money in an easy and convenient way”.
At the end of the 12 week incubation period, Swave will hopefully launch a pilot app in preparation for its full rollout early next year.
“Being able to base ourselves right in the centre of Lloyd’s innovation team” said Swave’s Ross Tappin, “means that we can appreciate the considerations that we need to make to ensure what we’re offering not only offers a great user experience, but that also we need to think about when hiring new employees as we continue to grow”.