How Open Innovation Can Help Boost Business for Barclays

May 4, 2018 By IdeaConnection

To discover new technologies that can improve the way it operates and the services it offers to clients Barclays hosts an annual global open innovation challenge.

The winner of the 2018 contest announced this week is Trade Ledger, a start-up from Australia.

The Barclays UK Ventures Open Innovation Challenge 2018 involved a face-to-face pitch by each of the ten finalists to Barclays’ technology leadership team. They were chosen for their “game-changing” technologies across numerous industries – among them were recruitment CRM and marketing automation, process mining software and AI security.

Trade Ledger won because it is helping to transform business lending through its innovative platform technology.

“Within Barclays UK Ventures, we’re looking for companies we can partner with to develop and deliver transformational products and services,” said Ben Davey, CEO of Barclays UK Ventures.

“We chose Trade Ledger as they have re-imagined the lending process by improving the processes through automation and opening up lending opportunities to a larger client base, which fully aligns to our Shared Growth ambition.”

Next Steps

Following their successful win, Trade Ledger is now in active discussions with Barclays about deepening their relationship and how their platform can help the bank’s business lending services.

“We believe the platform will help Barclays accelerate their transformation into data-driven lending, and that our selection proves the unique value of the Trade Ledger platform to support the bank’s innovation and growth ambitions,” commented Martin McCann, CEO and founder of Trade Ledger.

For more information about Trade Ledger’s innovation, click here.

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