Financial services giant Phoenix to partner fintech entrepreneurs to help improve financial inclusion

Edinburgh-based financial services business Phoenix Group has joined forces with FinTech Scotland and Tata Consultancy Services’ Co-Innovation Network (TCS Coin) to launch a forum dedicated to driving greater financial inclusion.

The forum is looking for fintech entrepreneurs that can partner with Phoenix to find ways of improving the financial wellbeing of customers in the lead up to and during retirement.

Initially the focus will be on two specific engagement themes – curiosity and gamification – with fintechs being asked to pitch ideas on how to get customers interested in financial planning and how interactive tools can be used to encourage greater engagement from customers.

Colin Williams, managing director of Pheonix’s pensions and savings business, said establishing the forum created “a great opportunity for Phoenix to connect key decision makers within our organisation with innovative enterprises”.

“We are looking to fuel creativity and come up with new solutions which really support our customers and build greater engagement and financial inclusion which is important to our group’s social purpose and part of our long-term sustainability strategy,” he said.

“We are looking to deliver forward-thinking propositions and to be at the forefront in developing innovative solutions, working in collaboration with TCS COIN and the FinTech Scotland community.” 

Nicola Anderson, chief executive of FinTech Scotland, added that the forum is likely to “attract significant interest from fintech entrepreneurs who share [Phoenix’s] ambition of helping customers more effectively engage with savings and investments”.