BNP Paribas Personal Finance and SuperTech Launch Innovation Lab to Tackle Financial Data Challenges
By Anushka Malhotra
1 minute
Growth

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Quick Read: BNP Paribas Personal Finance and SuperTech launch the Innovation Lab in collaboration with STEAMhouse, inviting SMEs with digital tech solutions to address data-led challenges in the financial services sector. The program offers a fully funded opportunity for comprehensive support, mentorship, and collaboration with industry experts, aiming to revolutionize the banking and financial sector.
Partnership with STEAMhouse Offers SMEs a Platform to Revolutionize Financial Services
In a bid to address data-led challenges within the financial services sector, BNP Paribas Personal Finance has joined forces with SuperTech to unveil the Innovation Lab. The initiative, in collaboration with STEAMhouse, aims to foster innovation in financial technology, encouraging SMEs with digital tech solutions to participate.
The focus of this year's challenge revolves around harnessing external data and insights to elevate engagement with financial services customers. BNP Paribas Personal Finance, along with SuperTech, invites SMEs to apply, irrespective of their current market presence, with a willingness to be physically present in Birmingham, West Midlands, for key program touchpoints.
Successful applicants will enjoy a host of benefits, including a flexible co-working space at STEAMhouse, mentorship from senior financial services experts, investment pitch opportunities, and personalized 1:1 support. The program culminates in a showcase opportunity during BNP Paribas' "Innovation Week in May 2024."
Stephen Hunt, CEO of BNP Paribas Personal Finance UK, expressed excitement about the partnership, highlighting the importance of embracing new ideas to deliver better products and solutions for customers.
The Innovation Lab represents a collaborative effort to accelerate fintech innovation, leveraging the insights and support provided by a global financial services brand. With the application window open until February 23, 2024, interested SMEs can visit SuperTech's website for more information and to apply.
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West Midlands Poised to Lead UK’s AI Revolution, Says KPMG Partner

Private firms in the West Midlands are outpacing the rest of the UK in their plans to adopt artificial intelligence (AI), positioning the region at the forefront of digital innovation, according to KPMG’s Andy Bostock.
With the UK Government’s AI Opportunities Action Plan aiming to cement the country as a global leader in artificial intelligence, the West Midlands is already taking significant steps in that direction. The plan, launched earlier this year, highlights how AI can modernise public services — and private sector companies across the region are responding to the call with enthusiasm.
According to KPMG’s Private Enterprise Barometer, published in December, 83% of West Midlands private firms are planning AI investments — well above the national average of 73%.
Andy Bostock, Senior Partner at KPMG, said:
“The most successful companies are those viewing AI not as a cost, but as a strategic investment in long-term growth and resilience.”
The West Midlands, with its strong roots in engineering and manufacturing, is well-positioned to reap the benefits of AI. From optimising supply chains to enhancing talent acquisition and predictive maintenance, AI applications are already transforming business models.
A recent joint report by KPMG and UKTN found that accelerating AI adoption across manufacturing and engineering will be essential to meet the region’s tech sector goal of reaching a £100 billion valuation by 2030.
The region is home to over 300 AI-focused businesses employing more than 11,000 people, forming one of the most dynamic digital clusters in the UK. Yet, Bostock stressed that the journey is just beginning.
To fully harness AI’s potential, businesses must establish strong, adaptable data frameworks and integrate AI solutions that align with their existing operations. This includes practical tools like chatbots for customer service, predictive analytics for inventory management, and AI-driven insights for marketing and long-term planning.
Andy Bostock added:
“Real business value comes from identifying where AI can enhance existing strengths. It’s not about starting over, it’s about getting smarter.”
As the region doubles down on digital transformation, Bostock believes cutting through the AI hype and focusing on measurable outcomes will be key to unlocking its full potential.
By Anushka Malhotra
11 Apr
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