Startup Mindset for Lloyd’s Banking Group

Our relationship with Rainmaking has given hundreds of our colleagues access to new tools and new ways of working that they are using to become inspiring intrapreneurs and to develop new propositions and services for our customers
Claire Calmejane
Head of Innovation

Five weeks to transform the mindset of five employees

Lloyds Banking Group is an active partner in our Startupbootcamp FinTech and InsurTech programs. They capitalize on direct access to the program’s startups to work with entrepreneurs, and use different perspectives to collaboratively add value for their customers.

As part of their £1bn digital transformation, Lloyds Banking Group are determined to instil an entrepreneurial mindset and approach for their colleagues.

They asked us to design a program which could inspire their colleagues with both the mindset and skills to explore, quickly validate and prototype new product ideas, startup style.

Taking the Team Out of Their Comfort Zone

We took a team of five out of the banking environment and immersed them in the Rainmaking Loft startup co-working space. Here they were surrounded by entrepreneurs and removed from their day to day environment.

The team that joined the Lab had a combined 35 years of banking experience with Lloyds Banking Group. The program was designed to challenge them to step away from the traditional processes and attitudes they were used to, and to embrace new approaches.

The team’s task was intended to throw them even further out of their comfort zones. We challenged them to turn a business idea into a working prototype, validated by real customers, in just five weeks.  

"We challenged them to turn a business idea into a working prototype, validated by real customers, in just five weeks"

Introducing Best In Class Startup Practices

To help the group navigate this challenge, expert trainers and experienced entrepreneurs were on hand to coach the team every step of the way.

Our coaches delivered a mixture of theory and practical exercises to upskill the team in Lean Startup methodology, business model design, rapid prototyping, customer development, minimum viable products, pitching and fundamental team dynamics.

The product design was tested with potential users at every stage and features validated using paper prototypes and digital mock ups to ensure a remarkable user experience.

“In just five weeks, the team built a digital product, directly shaped by customer insights.”
Virginie Raux
Head of Innovation Culture & Participant

Showcasing the Results

Two Demo Days showcased the program and prototype to a wide range of the Bank’s colleagues and executives.

Lloyds’ executives and project stakeholders were impressed by both the business case for the product idea and the team’s progression. Instead of asking, “should we build this?” executives simply asked, “how fast can we build it?”

The personal transformation of the participants was huge: their confidence and ability to creatively solve problems skyrocketed. What’s more, they left committed to sharing their experience with their colleagues and changing their own approaches going forward. 

Since the program, Virginie Raux created a Customer Development cell in her team. She then moved roles to become Head of Innovation Culture and Events. Her responsibility is now to promote an innovative culture within Lloyds Banking Group based on her experience in the program, and has influenced hundreds of colleagues.

Another participant asked Rainmaking to run a workshop for his entire team because he felt they couldn’t continue without the customer development training he had found so transformational.

“I cannot go back to the old ways of working, these tools need to stay and I need to help my colleagues to understand them”
Richard Fry
Digital Propositions Manager

Get in touch

General enquires
Press enquires