By: 17 August 2023

Between 10-20 applicants will develop their idea under the guidance of TSB

TSB and FinTech Scotland open innovation programme

TSB and FinTech Scotland have opened applications for fintechs to participate in its annual Innovation Labs Programme.  

Winning fintechs will partner with TSB, a UK bank, to offer solutions and services to customers. 

Between 10-20 applicants will develop their idea under the guidance of TSB, in its Edinburgh Tech hub, to get ready for the market.  

Previous winners include ApTap, Snugg Energy and Lightning Reach. They provide utility switching, energy efficiency and financial hardships services respectively.  

This year, TSB is encouraging fintech applicants to develop propositions across four areas. 

Money confidence, to help people manage their finances. Inclusive services, for both TSB customers and colleagues. The third area, delivering differently, aims to create positive career experiences, from career development to cost-of-living support. And finally, wildcard, to encourage innovative customer solutions.  

The scheme also helps to boost the UK’s fintech sector, TSB said in a statement. 

Aruna Bhalla, head of partnerships and open banking at TSB said: “Scotland is home to more than 200 fintechs. And with access to world class talent from Scottish universities, this is an excellent opportunity for TSB to bolster its position in the fintech landscape and provide even more money confidence to our customers.”   

Nicola Anderson, chief executive of Fintech Scotland, said: “This initiative not only reinforces TSB’s commitment to fostering fintech collaboration. But also its involvement in developing the fintech ecosystem in Scotland and across the UK.”   

Previous winner, Robin Peters, chief executive at Snugg Energy, said the programme has been invaluable to the development of its proposition.   

Peters added: “Thanks to our collaboration with TSB, we are now able to make energy efficient homes simple and affordable for thousands of homeowners.” 

Image: TSB  

Josh Poyser
Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.