NatWest has chosen five fintech startups to join its first Fintech Growth Program. According to the update, TunicPay, Ask Silver, mmob, Aperidata, and Sprive were selected after a process that included pitches, presentations, and interviews following the program launch in December.
This program offers fintech startups the chance to use the resources, expertise, and networks of a well-established bank to help them expand in a sustainable way. It supports NatWest’s goal of leading the future of banking, with the hope that some participants will contribute to the bank’s innovation pipeline.
Fintech Startups Join NatWest To Drive Innovation In Payments
The selected companies, all UK-based startups at the pre-Series A stage, focus on developing their business ideas by providing new solutions to challenges in the payments sector.
Through this programme, fintech companies will work closely with NatWest’s Innovation team and senior decision-makers across the bank. They will benefit from a structured curriculum designed for scaling up and will have the opportunity to build strong professional networks.
The small group of participants will be able to connect with other fintechs, industry coaches, and NatWest’s dedicated Innovation function.
David Grunwald, Director of NatWest Innovation, said the bank is pleased to welcome these five fintech companies to the programme. He noted that their solutions and potential align with the bank’s commitment to improving outcomes for customers.
According to him, working closely with these talented entrepreneurs strengthens NatWest’s focus on the future and reinforces its dedication to fostering innovation.
Lee McNabb, Head of Payments Strategy and Partnerships at NatWest, said payments operate as a network business and that large banks can no longer do everything on their own.
He said meeting customer needs and ensuring secure payment experiences require collaboration, partnerships, and learning from others. He explained that this is why he strongly supports the Fintech Growth Programme, as working alongside a group of innovative entrepreneurs can benefit both the market and customers.
Fintech Startups Introduce New Solutions For Payments And Credit Scoring
TunicPay is developing a trust infrastructure aimed at preventing scams while allowing safe transactions. The company provides banks with Payment Intelligence, which includes data fields and adaptive insights delivered throughout the payment journey.
Nicky Goulimis, Co-founder of TunicPay, said the company is excited to deepen its collaboration with NatWest, which prioritizes customer safety. Moreover, the goal is to enhance the digital payment experience and better address future fraud risks.
mmob offers tools that allow businesses to integrate or provide API services through their embedded finance toolkit. Irfan Khan, the Chief Executive Officer and founder of mmob, said he looks forward to learning from the NatWest team, particularly about how technology can be applied at scale to solve customer problems. He also said he is eager to exchange ideas with fellow participants while addressing challenges together.
Aperidata is a challenger credit bureau that uses Open Banking to improve financial inclusion. The company aims to revolutionize credit scoring and lending.
Stephen Ashworth, Chief Executive Officer of Aperidata, said this collaboration presents a valuable opportunity as the company continues its mission to help financially vulnerable and underserved consumers. According to Ashworth, having access to NatWest’s senior leadership and industry experts will be beneficial for their growth.