Having worked together on various projects for a few years, Bank of Queensland (BOQ) and Brisbane coworking community River City Labs have made their relationship official, announcing a two year corporate partnership.
With the partnership, or sponsorship, to see BOQ take up residential space at the hub, Donna-Maree Vinci, group executive and chief operations, digital and information officer at BOQ, said the deal will provide a new experience for staff, and ultimately benefit the bank’s customers by enhancing their banking experience.
“This mutually beneficial partnership will formally connect startups with our people across the group. In working side by side with River City Labs members, our people will actively contribute to Australia’s innovation community,” Vinci said.
“The new opportunities this partnership presents for BOQ can’t be understated and we are excited about this new chapter with River City Labs. While gaining the opportunity to provide our customers with innovative banking solutions and new age services, our people will also benefit from new insights and immersive experiences, such as a newly created River City Labs out-turn program.”
The out-turn program will see BOQ employees partnered up with startups that require a specific skill set or expertise, working with them one day a week for 12 weeks.
River City Labs CEO, Peta Ellis welcomed the partnership, saying it is “positive” to see BOQ increase its commitment to the sector.
“This exclusive partnership will allow River City Labs to implement further programs and solutions for our startup community. As a resident at River City Labs, the partnership with BOQ is already delivering benefits with a small team currently developing a creative new business idea, demonstrating just how quickly this partnership is fostering new thinking,” she said.
The coworking community has worked with BOQ on a number of initiatives over the last few years, including its BOQ Hackathon, which last year focused on ideas around four core issues: how can data be used to improve customer value, how can BOQ create an integrated banking experience for millennials, how can it be made easier for customers to switch banks, and open or creative fintech ideas.
BOQ is just the latest corporate to partner with the coworking community, with River City Labs also boasting a partnership with fellow financial services firm CUA.
Companies across the financial services space, in fact, have been quite keen to dip their toes into the startup world through sponsorship of a coworking space. Fintech hub Stone and Chalk alone boasts partnerships with dozens of corporates across the industry.
Image: Peta Ellis. Source: Supplied.