NEWS
NEWS
NatWest Group innovation team launches new FinTech growth programme
NatWest Group is set to launch its first FinTech Growth Programme , an exciting opportunity for FinTech startups to use the resources , expertise and networks of an established highstreet bank to help them scale-up sustainably .
The programme supports NatWest ’ s ambition of leading the future of banking with the hope that some of the participants will help drive the bank ’ s innovation pipeline .
NatWest plans to select five FinTechs who provide solutions to specific problems in the payments space , an ever-growing issue in our increasingly digital led world . The participating FinTechs should be pre-Series A UK-based startups looking to develop their business ideas . Then , through ten weeks of workshops , mentoring and coaching , NatWest aims to work with these FinTechs to co-create solutions to lead the future of banking .
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 .”
Mark Brant , Chief Payments Officer at NatWest , added : “ Innovation and collaboration are fundamental to growth , especially in a challenging commercial environment . This programme champions NatWest ’ s innovation by working with FinTechs to co-create solutions to lead the future of banking .”
Zilch ’ s Black Friday spending surge – record boost to retailers as shoppers target travel bargains
Zilch , the FinTech payments innovator of the world ’ s first adsubsidised payments network ( ASPN ), has released showing the full impact of a record Black Friday that saw its sales more than double compared to the previous year .
Black Friday bargains drove a 116 % year-on-year growth in sales , with 93 % year-on-year growth following on Cyber Monday . The figures underline the power of Zilch ’ s network to connect its 4 million users to great deals .
Travel spending was the surprise standout category on a day best known for delivering deals on consumer goods , as Zilch users spent more than ever on securing getaways with flights and spa breaks proving the most popular subcategories .
The fastest-growing payment method was the recently-launched ‘ Pay over 3 months ’ option , providing a more flexible way to spread the cost for bigger-ticket purchases .
• Product categories showing the fastest growth compared to Black Friday 2023 were electronics (+ 140 %), travel (+ 127 %) and health and beauty (+ 125 %)
• Retailers ’ advertising spend with Zilch increased 135 % over Black Friday week this year compared to 2023
• The peak trading minute for brands was 12:02 on Black Friday
eBay was among the retailers benefiting from the Black Friday surge .
Rebecca Mangaroo , EPN Partnerships Lead ( UK ) at eBay , said : “ eBay has been working with Zilch for over three years and we are over the moon with the volume and quality of sales generated . As a key affiliate , Zilch is dedicated to providing customers with a unique and invaluable service to help spread out their purchases without interest or late fees – helping everyone shop worry-freeing any interest or late fees – helping everyone to shop worry free . Most impressive is the performance during this peak period compared to last year : we saw an incredible year-on-year increase in GMV of 118 %. Truly impressive .” www . intelligentfin . tech
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