SuperTech WM Launches Open Innovation Lab to Combat Fraud in the West Midlands

SuperTech WM has launched the Open Innovation Lab: Fighting Fraud, a cross-sector initiative uniting financial institutions, legal firms, and academics to tackle escalating fraud threats. For fintech and regtech innovators, the programme offers a direct pipeline to pilot solutions with major partners like BNP Paribas and Equifax, addressing critical gaps in AI-enabled detection and identity verification.

What was announced

The Open Innovation Lab: Fighting Fraud is a structured innovation programme designed to bridge the gap between emerging technology providers and established financial and legal services. Applications are currently open for fintechs, regtechs, and AI specialists, with a deadline of Wednesday, September 30. The programme officially commences on October 13, culminating in a showcase where participants present refined solutions and insights to the participating organisations.

The lab focuses on six core industry-led challenge areas: authenticating documentation to reduce false positives; strengthening fraud resilience in digital journeys; real-time protection through dynamic customer outcomes; identity integrity across distributed access channels; AI-enabled fraud detection, investigation, and response; and the emerging risks associated with agentic AI. These themes were developed in collaboration with industry partners to reflect the most significant fraud-related issues facing organisations today.

Confirmed partners providing real-world use cases and direct engagement include BNP Paribas Personal Finance, Equifax UK, Tipton & Coseley Building Society, and credit unions such as Advance and Clockwise. Legal expertise is provided by law firms Fieldfisher and HCR Law, while Aston University contributes academic research through its Fraud Research Group. Successful applicants will gain direct access to these organisations to better understand industry challenges, refine their solutions against real-world use cases, and accelerate their route to market.

"Fraud continues to evolve at pace, creating significant challenges for organisations, customers and communities. We're bringing together innovators, industry leaders, regulators and academic experts to explore practical solutions that can strengthen resilience, reduce harm and improve outcomes for businesses and their customers."

Hilary Smyth-Allen, CEO of SuperTech.

The companies involved

SuperTech WM is a West Midlands-based professional and financial services cluster focused on accelerating technology adoption across the region. It operates as a focal point for fintech and lawtech development, facilitating collaboration between technology innovators and established firms. Equifax UK, a major partner in this lab, is a prominent credit reference agency and data analytics provider that has recently focused on automating AML compliance and identity verification for major UK lenders.

The cohort includes established financial entities like BNP Paribas Personal Finance, a leading provider of consumer finance, and the Tipton & Coseley Building Society, which has provided regional financial services since 1869. The legal sector is represented by Fieldfisher LLP, a European law firm with a strong focus on technology and regulation, and HCR Law. The inclusion of Advance Credit Union and Clockwise Credit Union highlights the programme's focus on community-based financial services and the specific fraud challenges faced by the credit union sector. Academic oversight is provided by Aston University, specifically through its dedicated Fraud Research Group, ensuring that technological solutions are grounded in current research and evidence-based methodologies.

What FF News has reported before

FF News has closely followed the activities of the lab’s key partners, particularly Equifax UK. We recently reported on how Equifax UK Launches Automatic Watchlist Monitoring to Streamline Real-Time AML Compliance, a move that aligns with the lab's focus on identity integrity. Additionally, the firm’s role in the mortgage sector was highlighted when NatWest Becomes First UK High Street Bank to Adopt Equifax Verification Exchange for Digital Mortgages. Our coverage of the broader consumer finance landscape includes reports on how Young UK Consumers Ditch Credit Cards as BNPL Claims 22% of Retail Finance, a shift that creates new fraud vectors for the partners involved in this initiative.

What this means

This initiative signals a shift away from siloed fraud prevention toward a collaborative, "ecosystem" approach. By bringing credit unions and law firms into the same room as global banks and AI startups, SuperTech is addressing the reality that fraud is rarely contained within a single sector. The focus on "agentic AI" is particularly timely; as criminals begin to use autonomous AI agents to automate social engineering and identity theft, the industry is under immense pressure to move beyond static detection. The success of this lab will be measured by whether it produces interoperable standards for identity, rather than just isolated pilot projects, which remains the primary hurdle for UK fraud resilience.