As part of NatWest’s first Fintech Growth Programme, the UK high street bank has selected its first five fintech startups to take part.
After launching in December and reviewing pitches, presentations and interviews, NatWest has chosen Aperidata, Ask Silver, mmob, Sprive and TunicPay.
All five fintech startups will leverage resources from NatWest and use its resources to help them scale-up and support their sustainability, with an additional aim from the UK bank in being able to foster new partnerships for the future growth of NatWest.
Lee McNabb, Head of Payments Strategy and Partnerships at NatWest, said: “Payments is a network business and the days where big banks do everything themselves are over. To succeed in meeting customer needs and keeping them secure in their payment experiences we must embrace collaboration, partnership and learning through others.
“This is why I’m a huge supporter of the Fintech Growth programme. Working together with a talented and thought-provoking group of entrepreneurs can only bring good things for the market and our customers.”
The five chosen startups have all received pre-Series A funding in the past and are now looking to provide their own unique innovative solutions to address modern challenges within the payments space.
David Grunwald, Director of NatWest Innovation, added: “We’re pleased to welcome these five fintechs onto the NatWest Fintech Growth Programme. Their solutions and remarkable potential align with our commitment to create better outcomes for our customers.
“Collaborating closely with such talented UK entrepreneurs not only enhances our ability to be future focussed, but reinforces our dedication to fostering the growth of the innovation community.”
TunicPay seeks to build infrastructures to mitigate scams through payment intelligence, a typology-specific data field embedded within the payment journey. Aperidata utilises Open Banking to improve financial inclusion by “revolutionising the credit scoring and lending processes”.
For Sprive, it is aiming to help millions of homeowners live with less debt by uncovering spare cash to reduce their mortgages via smart overpayments, marketing monitoring and cashback from everyday shopping. Ask Silver is another scam protection service, with its Scam Checker service enabling an extra layer of protection online for text messages, emails, etc.
The five startups will participate for ten weeks of workshops, mentoring and coaching, working with NatWest experts to support the scale up of their businesses.
