SHIFT Community Update #34
Fintech Foundations, NatWest Accelerator and Smart Data
Hey SHIFT Community, here’s your update on all things SHIFT.
SHIFT Updates
🔨 LAST CHANCE TO SIGN UP: Fintech Foundations. Thursday 27th February, 13:00-18:00 GMT, London Bridge. Hone the skills necessary for scaling your Fintech with hands-on classes from industry leaders. Social Branding with LinkedIn, Fundraising Legals from Howard Kennedy, GTM from Alexander Ford, and Partnerships with 2112 Marketing. Only a few final spots available.
🤝SHIFT+ is open to applications! We have a few spots now available for 2025 on our SHIFT+ programme - a unique opportunity for you to access affordable micro-consultancy services and expertise from Woodhurst consultants working on live digital transformation projects across FS. If you’re looking for support in selling into Banks or Building Societies, ranging from product positioning to identifying partnerships, SHIFT+ can help.
Member Updates
👋 Some awesome new SHIFT members, so make sure to say hi on Slack:
Chloe Coleman, Founder & CEO of Vouchsafe, a platform offering complete and inclusive identity verification & KYC that allows everyone, even people without ID, to access essential services across government, finance, utilities and more.
🚀SHIFT is delighted to announce that 4 out of the 5 Fintechs selected for NatWest’s Fintech Growth programme are SHIFT members! Ask Silver, mmob, AperiData and Sprive have made it through the rigorous application process and will spend the next 10 weeks gaining mentorship, workshops, and direct access to NatWest’s senior leadership, to accelerate their growth and impact.
💪 Doshi launches pilot with Lloyds! to upskill and build financial confidence for users, especially when making decisions about their money.
💰Sync Savings is currently fundraising! Sync is on a mission to make it effortless for employees to build financial resilience while unlocking powerful new distribution channels for financial services. If you’re interested in getting involved in this rare opportunity, let us know and we can connect you.
If you have news that you want to be included here then make sure to post it in the #news-and-views channel on Slack or tag Kyle in your posts!
Resource Recommendation
Making Smart Data Happen
The Startup Coalition and the Tony Blair Institute (TBI) have urged the UK Government to accelerate the rollout of Smart Data through the upcoming Data (Use and Access) Bill, expected to pass by Spring 2025. This legislation aims to give individuals greater control over their data while unlocking an estimated £27 billion in economic growth. While Open Banking has been the only existing Smart Data scheme, now used by over 11 million UK consumers, the Bill will empower regulators to expand data-sharing initiatives across sectors, focusing specifically on finance, energy, and property.
With Open Finance it calls for the expansion of data sharing to cover savings, investments, mortgages, and pensions. This would enable consumers to access a more comprehensive view of their finances, promoting financial inclusion, innovation, and transparency. By unlocking richer datasets, Fintechs and Financial Institutions could offer more tailored products and services, empowering consumers to make more informed financial decisions. The report also emphasises the need for cross-sector governance to ensure Smart Data schemes prioritise individual interests and maintain strong data protection standards. Done right, Open Finance could not only benefit consumers but also stimulate competition and drive significant growth across the financial services sector.
If there are any resources you find enjoyable, useful, or interesting then let me know :)