Following Swave’s achievement at the innovation challenge, Lloyds invited Bordas and Tappin to base themselves in the bank’s digital hub in London for 12 weeks, where they stand to benefit from input from the bank’s digital team as they build their proposition. Lloyds Bank is supporting early stage start-up, Swave, which has raised £1m in a Series A funding round. The Swave app aims to use an algorithm to detect spend in "luxuries" such as meals out and cinema tickets and highlight the opportunity to save an equivalent amount, or a percentage of it, in a savings account. Lloyds has invited Swave to spend 12 weeks based in its digital hub, benefiting from its experts, during which time the start-up plans to launch a pilot to test the app head of next year’s launch.
Lloyds Bank is supporting early stage start-up, Swave, which has raised £1m in a Series A funding round. The Swave app aims to use an algorithm to detect spend in "luxuries" such as meals out and cinema tickets and highlight the opportunity to save an equivalent amount, or a percentage of it, in a savings account. Lloyds has invited Swave to spend 12 weeks based in its digital hub, benefiting from its experts, during which time the start-up plans to launch a pilot to test the app head of next year’s launch.