Studio B (Image source: CYBG)

Studio B (Image source: CYBG)

UK-based Clydesdale Bank and Yorkshire Bank – which together form CYBG – have launched their banking innovation lab on Kensington High Street in London.

Called Studio B – CYBG partnered with design consultancy Market Gravity to design, implement and launch the lab.

Nick Sherrard, managing director, Market Gravity Edinburgh, says it will be exploring voice recognition, artificial intelligence (AI), virtual reality, internet of things (IoT), blockchain and “other innovations set to disrupt the sector even further”.

Studio B is inviting members of the public, innovators and “young” designers to come in and test, trial and provide feedback on new technology, develop new products and ideas, and share insights on their banking behaviours.

There will be interactive experiences as well as banking facilities and self-service branch technology to give visitors an “immersive experience while allowing them to carry out practical banking activities using new technology”.

Applicants can apply to join the studio through social media, design blogs, and creative networks and will be judged on their creative thinking and ability to work in teams via a short video interview.

B a challenger

Last year, CYBG and Market Gravity launched a new digital banking platform, called “B”, as CYBG gets ready to become a standalone challenger bank.

Debbie Crosbie, COO at CYBG, says the bank positions it as an offering to “help customers better understand and control their money”. The platform was initially piloted with staff and received a “positive” response.