TSB has opened applications for its latest fintech programme in partnership with Fintech Scotland, with up to 20 successful startups given an opportunity to become an official supplier to the bank.
The annual TSB Innovation Labs programme, which is hosted in TSB’s Edinburgh-based technology centre, is in its third year.
This year’s applicants are encouraged to develop fintech to help people manage their money, increase inclusivity for TSB staff and customers, and make TSB staff careers more positive, as well as a wildcard option to develop propositions to meet various customer needs.
Between 10 and 20 successful applicants will go on to develop propositions under the guidance of TSB business leaders and experts in TSB’s Edinburgh Tech hub to ready themselves for market. Some participants will go on to partner TSB in its fintech programme offering fintech services.
The tech hub houses technical specialists, data engineers, analysts and other IT experts.
TSB’s head of partnerships and open banking, Aruna Bhalla, 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, CEO at 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 winners ApTap, Snugg Energy and Lightning Reach are currently delivering services for TSB customers by providing utility switching, energy efficiency and financial hardship services, respectively.
Robin Peters, chief executive at Snugg Energy, said the TSB Labs programme has been invaluable to the company. “It enabled us to develop our proposition and cater to the needs of TSB customers,” he said.
“Thanks to our collaboration with TSB, we are now able to make energy-efficient homes simple and affordable for thousands of homeowners.
Ren Hooi, founder and CEO at Lightning Reach, said the partnership is now fully operational, and thousands of TSB customers are using its services to find personalised financial support to help them during the cost-of-living crisis.
“I’d encourage any aspirational fintechs to apply for this brilliant scheme and take a step closer to delivering for customers,” she said.
Apply to the programme here before 4 September.