FinTech is a rapidly accelerating industry and is now an intrinsic way to deliver financial services in the UK. But not all of the best solutions to challenges faced by financial institutions start as a fintech business or application.
BNP Paribas Personal Finance recognises this phenomenon and has partnered with SuperTech and Bruntwood SciTech to create this incubator programme. Together three challenges are posed and technology companies from any market are invited to respond and participate in the programme if there is potential to address their problem statements.
The challenges stem from across the business, considering the future of underwriting, driving performance through internal management and enhancing customer service.
Do you have a digital solution to help us tackle these complex challenges? SuperTech want to hear from you.
CHALLENGE 1
AUTOMATED UNDERWRITING PROCESSES AND DECISIONS
How might we fully automate underwriting processes / decisions (no human interaction required)?
This challenge is seeking to drive efficiency and improve business results by infusing machine intelligence into day-to-day decisions, using a combination of automation, prediction and optimisation. In responding to this challenge, the ambition is to reduce inefficiencies arising from data inconsistencies, manual processes and reviews within the underwriting process.
CHALLENGE 2
DATA VISUALISATION
How might we create easy to use, digital reporting applications that are supported by data visualisation (widget based; build interface; workflows)?
This challenge is focussed on moving the business beyond Excel based reporting fundamentally drawing on pivot tables and charts and increasing the quality and accessibility of intelligence available to the business.
CHALLENGE 3
CHATBOTS
How might we best implement chat bots to make them successful for our customers and our business?
This challenge is about how to easily create a conversational chatbot and IVR powered by AI to simplify the customer experience and be conscious about the design so that customers can actually complete what they want to do rather than adding another ‘’channel’’ into existing call centres.
WHAT’S ON OFFER TO SMEs
A fully funded programme providing:
• Six months of tailored business support and direct access to key stakeholders at BNP Paribas Personal Finance
• Full-time access to co-working space during the 6 months at Innovation Birmingham
• Tailored investment readiness programme, with support from experienced investment coaches
• Support from a dedicated FinTech expert Entrepreneur in Residence, and access to Bruntwood SciTech support network
• Business development opportunities
• Growth focus – business support, e.g. IP, marketing, HR, partnerships
• Funding advice and grant opportunities
• Tailored business support from Validation to Commercialisation
• Collaborative intelligence – meet up with other residents to unlock each other’s issues and collaborate
ELIGIBILITY CRITERIA
Applicants must be SME sized businesses (Less than 250 employees & turnover under £50 million)
• You must be an early-stage startup, working fulltime on your project
• You must have an MVP and some KPIs to show
• You must want access to top entrepreneurs and resources
• Applicants must have a UK registered company address
• Proposed solutions must include a digital development
• Proposed solutions must address at least one of the live challenges
• Each application must propose one solution
• Applicants can apply more than once if they have more than one solution to offer
• Applicants must be willing to be present in Birmingham, West Midlands for key touch points in the programme (own expense).
APPLY HERE BY 6TH APRIL 2022!
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