NatWest Group has announced it will launch its first Fintech Growth Programme, giving financial technology startups the opportunity to use the bank’s resources, expertise and networks to help them scale-up sustainably.

NatWest said that the new programme will support its ambition of leading the future in banking, with the hope that the participants can help drive the bank’s innovation pipeline.

The programme will see NatWest select five fintechs with ideas tackling specific problems in the payments space, then, through ten weeks of workshops, mentoring and coaching, these startups will co-create their solutions alongside the bank in the hope of seeing them take off in the wider banking sector.

Among the solutions NatWest are looking for include ways to proactively protect customers and their payments, ideas to help vulnerable customers manage their everyday spending, and improvements to customer’s payments experience. 

David Grunwald, director of NatWest Innovation, said: “This programme lays a pathway to create better outcomes for our customers.

“Working this closely with fintechs and UK entrepreneurs strengthens our ability to be future focused, while supporting the growth of the innovation economy.”

Fintechs looking to participate in the programme should be pre-Series A, UK based startups with a product in the market, and the ability to scale within the next twelve months.

According to the bank, firms that already have an active user base, some previous success in raising funds, and evidence of monetisation for their products are especially welcome.

In return, NatWest said it will provide direct input on best practices for working with financial institutions, provide tailored tools and activities for startup’s growth, and help to build firm’s networks in an effort to assist with scaling up.

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“Innovation and collaboration are fundamental to growth, especially in a challenging commercial environment,” said Mark Brant, chief payments officer at NatWest. 

“This programme champions NatWest’s innovation by working with fintechs to co-create solutions to lead the future of banking.”

To deliver the Fintech Growth Programme, NatWest is working with Aspire – a third-party consultancy that specialises in curating curriculums and delivering support for startup growth.