Applications open for fourth Innovation Labs programme

The joint initiative from TSB and FinTech Scotland aims to encourage the next cohort of fintech collaborators

TSB is taking applications for fintechs to participate in its fourth Innovation Labs programme as the bank and Fintech Scotland encourage the next cohort of fintech collaborators.  

This year, TSB is looking to work with fintechs that have open banking propositions that will deliver money confidence to customers, offering them a more personalised experience and access to a range of financial products such as savings, insurance, investments and pensions.

The scheme continues to support Scotland’s fintech sector – giving up to 15 successful applicants the opportunity to develop their proposition with the guidance of TSB experts at TSB’s Edinburgh headquarters, Henry Duncan House.

Following the success of last year’s Innovation Labs Programme, TSB has also announced it will be partner with fintech, Doshi, for the next six months. Doshi will provide a learning gaming app to support TSB’s Money Confident Communities financial education programme. The programme, which has been in place for three years, involves TSB colleagues volunteering at local schools to help young people as they take their first steps towards financial independence.

Aruna Bhalla, head of partnerships and open banking, TSB said: “We are thrilled to have played a small part in supporting Snugg, Lightning Reach, and most recently Doshi through our Innovation Labs Programme and are delighted to be partnering with Fintech Scotland for a fourth year in a row.

“If you’re one of the 200 fintechs based in Scotland, now’s your chance to submit your application to help shape how TSB delivers Money Confidence through Open Banking.”

Nicola Anderson, chief executive, Fintech Scotland said: “We’re delighted to work with TSB and continue to be inspired by TSB’s approach to supporting fintech development, working in true partnership on solutions and propositions for customers. This year’s programme, focused on Open Banking is a sign of the continued value Open Banking innovation presents for the future of the banking sector. It’s an exciting opportunity and I’m looking forward to the seeing the results and partnerships develop”.

Daniel Rose of Doshi App Ltd said: “As a start-up, you don’t get many opportunities to collaborate with senior leaders of a leading UK bank. Working with TSB has enabled us to co-create an exciting solution with the potential to change the lives of thousands of young adults.

Image: TSB

Robert Welbourn Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.