Lloyds promotes fintech contest

Lloyds Banking Group is running a competition to find the next big thing in fintech, with the most compelling ideas being invited to a “commercial experiment” with the bank.

The Launch Innovation Programme is open to fintechs interested in participating in a 12 week programme with “expert guidance” from senior figures and subject matter experts at Lloyds Banking Group.

Potentially, successful applicants may receive series B funding, at the discretion of the bank’s fintech investment team. Last year saw car admin software Caura land a £4m investment.