Introduction
TSB is launching its ‘Innovation Labs’ programme in Scotland for the third consecutive year. The programme, in collaboration with Fintech Scotland, aims to boost the UK fintech sector by supporting innovative fintech companies. Successful applicants will have the opportunity to develop their propositions under the guidance of TSB business leaders and experts in its Edinburgh tech hub.
Areas of Focus
The programme invites applications in four areas:
- Money Confidence: Developing solutions to help customers better manage their finances, such as utility switching and financial hardship services.
- Inclusive Services: Creating inclusive financial services that cater to all customers.
- Delivering Differently: Exploring new approaches and technologies to deliver financial solutions.
- Wildcard Sector: Encouraging fintechs with innovative ideas that do not fit into the first three categories.
Partnership Opportunities
Successful companies will have the opportunity to partner with TSB to offer innovative and new financial solutions. TSB aims to expand its fintech partnerships and provide even more Money Confidence to its customers.
Fintech Ecosystem in Scotland
Scotland, with more than 200 fintechs and access to world-class talent from Scottish universities, is an ideal location for fostering fintech collaboration and developing the fintech ecosystem. TSB’s involvement in this initiative strengthens its commitment to the fintech sector and bolsters its position in the fintech landscape.
Previous Winners
Previous winners of the Innovation Labs programme include AppTap, Lightning Reach, and Snugg Energy. These fintech companies, categorized under ‘Money Confidence’, have helped customers manage their finances in various ways. Snugg Energy, for instance, now forms an integral part of the TSB customer journey.
Conclusion
The Innovation Labs programme offers an exciting opportunity for innovative fintech companies to partner with TSB and develop cutting-edge financial solutions. By supporting the fintech ecosystem in Scotland, TSB aims to contribute to the growth of the UK fintech sector.
