CaixaBank and global startup platform Plug and Play have joined forces to promote new services for the banking and insurance sector through a collaboration programme with startups.

The agreement is primarily articulated through the creation of the 'Barcelona Engagement Programme', the first innovation programme involving Plug and Play in Barcelona. A committee of specialists linked with the programme will identify and select innovative businesses in early phases with fintech and insurtech projects. These companies will be supported by experts to develop proof of concept, and will work together with teams from CaixaBank Payments and Consumer, imaginBank and Plug and Play to solve real business challenges.

Furthermore, the agreement with Plug and Play establishes the collaboration to locate innovative projects in the fintech sector that are setting up in other parts of the world, and to explore potential alliances.

Meanwhile, the alliance with Plug and Play means that the platform will also work in partnership with CaixaBank's various lines of open innovation. In its strategy to develop new services and user experience, the entity promotes collaborative work with third parties to detect trends and opportunities, through initiatives such as the Payment Innovation Hub, a multi-sector alliance of businesses formed of CaixaBank, Global Payments, Samsung, Visa and Arval, as well as the zone2boost programme.