Opportunity: Phoenix Group launch 2 new FinTech challenges as part of Innovation Forum
FinTech North / 19th May 2022
This programme builds on the innovation work already underway at Phoenix and creates a purposeful pathway for them to build partnerships with FinTech and Tech SME’s.
For successful applicants the programme offers the opportunity to work with one of the leading pension and investment groups in the UK, where they will have access to business leaders, designers, industry experts and mentors.
The Innovation Programme
The challenges are set around themes
Financial Resilience – Using Gamification to support Digital Literacy
Customers’ financial lives – Getting customers curious about their savings
Phoenix Group is a FTSE 100 company and the UK’s largest long-terms savings and retirement business with a deep-seated culture of innovative thinking. Our vision is to be market leaders in solving current and future business problems and industry challenges; and we are providing the opportunity for companies and individuals to join us on our mission. Over a 3 month period you will have the opportunity to design, refine and present your innovative solutions to our Decision Making Panel composed of senior leaders across the business.
Phoenix Group are committed to contributing to the closure of the growing pensions and savings gap by addressing the diverse needs of society and fostering better financial and social wellbeing.
Our sustainability strategy is fully aligned to our corporate purpose of helping people secure a life of possibilities. It addresses the critical trends impacting our industry including societal issues such as the ageing population, concentration of wealth, financial uncertainty, an evolving digitization of business and the responsibility to address global environmental challenges.
Our sustainability strategy is focused on three key themes: Investing in a Sustainable Future, Engaging People in Better Financial Futures, and Building a Leading Responsible Business. As part of Investing in a Sustainable Future, we are proud to have joined the race to net zero: committing that our investment portfolio will be net zero by 2050. To Engage People in Better Financial Futures we are developing flexible products, increasing saving options by introducing sustainable fund ranges and where possible, making sustainable products the default. We have also developed guidance and tools that will help customers plan their financial futures. Under our third strategy theme, Building a Leading Responsible Business, we have committed to net zero emissions from our own operations by 2025 and made great progress during 2021, reducing our operational emission intensity by 34%. We are also engaging with our suppliers to halve our supply chain emissions by 2030
What are they trying to solve?
Research has shown that a key way to encourage sustained engagement is through ‘gamification’ style tools and rewards which are relevant and interactive. We are therefore exploring the ability to create an immersive approach which builds excitement and desire to upskill, demonstrating to our customers the reward available in saving.
Curious people not only ask questions, but also actively seek out the answers. If we can find out what creates this vital spark of curiosity, we can develop things to nurture and encourage this in early learning in preparation for savings as well as in adult learning as customers go through their savings journey with us.
What can I expect?
If you share our passion for improving financial and social wellbeing – for making a genuine, positive impact on our customers’ lives – apply to work with Phoenix Group. Not only will you have the opportunity to create proposals to help solve the challenges that we have highlighted you will also have the opportunity to collaborate with a large corporate partner. Working with Phoenix Group, you will have the opportunity to shape your proposals alongside our Business Leaders and Sponsors; and if you are successful, we’ll look to formally partner with you for the benefit of our customers and wider society.
How do I get involved?
Are you ready to take on one of our challenges? If so, register your interest by providing Phoenix Group with your full name, email address and a short bio that gives us a feel for who you are and how you’d like to partner with our organisation.
We’ll send you more information about next steps, including our upcoming information session; where you can hear from our business leaders live about the problems that we’re trying to solve.