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TSB and Fintech Scotland launch third annual Innovation Labs programme

Through the programme, 10 to 20 new fintechs will develop their proposition and ready themselves for market

Fintech Scotland TSB innovation lab

Nicola Anderson and Aruna Bhalla/Fintech Scotland and TSB

For the third year running, TSB is launching its ‘Innovation Labs’ programme in Scotland.

In collaboration with Fintech Scotland, the programme is open for applications across four areas: money confidence, inclusive services, delivering differently and a wildcard sector for fintechs that are beyond the bounds of the first three categories.

The scheme aims to help boost the UK fintech sector, with between 10 to 20 successful companies developing their proposition under guidance from TSB business leaders and experts in its Edinburgh tech hub.

Successful applicants will get a chance to partner with TSB to offer innovative and new financial solutions as the bank expands its fintech partnerships.

“Scotland is home to more than 200 fintechs and, with access to world-class talent from Scottish universities,” TSB head of partnerships Aruna Bhalla said.

“This is an excellent opportunity for TSB to bolster its position in the fintech landscape and provide even more Money Confidence to our customers.”  

Previous winners include AppTap, Lightning Reach and Snugg, the latter of which is now embedded in the TSB customer Journey.

The three fintechs fall under what TSB has categorised as ‘Money Confidence’ — they help customers to better manage their finances in different ways, from providing utility switching to financial hardship services.

“We are excited to join forces with TSB once again to discover and accelerate some of the most innovative fintech companies,” Fintech Scotland CEO Nicola Anderson 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.”  

Hosted in the TSB Edinburgh Technology Centre, the programme will run until the end of the year.

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