Barclays wanted to increase customer engagement by making the mobile banking experience more fun or meaningful for their customers. In particular, Barclays were keen to meet startups from non-fintech backgrounds, to apply their learnings from other sectors to the banking space.
What we did:
We ran a ‘business challenge’ accelerator in partnership with Barclays’ innovation hub, Rise, to discover startup tech companies who could answer the brief. The challenge was promoted across The Bakery’s network, with The Bakery team meeting with potential contenders to curate applicants down to a recommended longest of
The Bakery then ran an ‘Inspiration Day’ where Barclays team members met 10 startups of interest in person, to learn more about their solutions and get a feel for who could be the right partner to work with.
Five selected companies then developed POCs to present at a final Demo Day to Barclays management, from which the Barclays team selected the most exciting startups to run a trial with.
Barclays are currently in development with the selected partners; but the goal is to trial the solutions to the brief via Barclays’ Launchpad platform, to test the most exciting tech with real Barclays customers and gain valuable learnings, before deciding which solution to roll out further.
In the mean time, the process has introduced a wider group from across the Barclays business to the open innovation process, and a new way of working with, and more like, entrepreneurs.
Watch this space…!