Lloyds bank has launched a new Innovation Sandbox, supported by NayaOne.
In Brief:
The sandbox aims to accelerate Lloyds’ collaboration with FinTech companies.
It will then speed up the development of products and services that come out of this.
The sandbox has already conducted a number of “experiments” before it was fully launched.
What does this mean?
Lloyds has developed the sandbox in line with research that said almost half of financial services firms plan to work more closely with FinTechs, and said it will increase the “velocity of technology-led innovation” to support the bank’s overall tech strategy.
