BNP Paribas Personal Finance UK rolls out 4 tech-based solutions

By Gloria Methri

Following the launch of its UK FinTech incubator programme, BNP Paribas Personal Finance UK is bringing four new innovative tech-based solutions to its customers.

In January, BNP Paribas Personal Finance UK launched an Innovation Lab in collaboration with SuperTech WM and STEAMhouse, inviting eight FinTech organisations to solve real-life challenges set by the finance provider.

Over the last nine months, the cohort has worked with experts from the programme’s founding partners and delivery partner STEAMhouse to develop an innovative solution that will enable the finance provider to use data and insights to deliver more value to its customers and partners.

Of all the digital solutions developed during the programme, BNP Paribas Personal Finance UK is taking forward four solutions to trial with its customers via myCreation on the Creation App.

This will include:

• Furbnow’s Home Energy Check Tool, which helps to make homes energy efficient without the hassle.
• CarCloud, that provides car insurance, finance, admin and running costs in one place.
• Inicio’s friendly virtual agent, Budgie, which enables customers to complete a detailed affordability form.
• Paylow, which analyses people’s habits and needs to provide a proactive autopilot for all recurring expenses.

By incorporating these solutions into myCreation, BNP Paribas Personal Finance UK aims to measure its customers’ reception and test the solutions’ potential to deliver value in the financial services sector.

Chief Executive Officer of BNP Paribas Personal Finance UK, Stephen Hunt, said, “As a leading finance provider serving over 4 million customers, it is essential that BNP Paribas Personal Finance UK remains at the forefront of innovation and is constantly looking for new products and services that can make our customers’ lives easier. The ability to bring these groundbreaking solutions to our customers showcases the true value of the Innovation Lab programme both to our business but to the wider financial services sector too.”

Executive Director at SuperTech, Hilary Smyth-Allen, said, “I have thoroughly enjoyed seeing both the progress made by this year’s cohort and the pivots they have taken since the start of the programme. As well as furthering the development of these businesses, the Innovation Lab has highlighted the value of collaborating across sectors to generate new ideas and advance the financial services sector as a whole.”

Vita Woods, Innovation Manager at STEAMhouse, said, “Through successful collaboration, the FinTechs have developed great products and services that will help transform the financial services sector.”