TSB and FinTech Scotland have opened applications for startups to join their annual Innovation Labs programme, dangling the prospect of a full-scale commercial rollout across the UK bank's customer base.
Under the programme, winning fintechs will officially partner with TSB to offer innovative services and money-saving products to customers, as the Bank expands its fintech partnership programme.
Running until the end of the year, between 10-20 successful applicants will develop their proposition under the guidance of TSB business leaders and experts in the Bank's Edinburgh Tech hub to ready themselves for market. The George Street facility houses technical specialists, data engineers, analysts and other IT experts to develop and deliver innovative services for customers across the UK.
Applicants will be expected to develop a proof-of-concept for a staff pilot, which will then be tested with a small number of customers ahead of a full-scale rollout if successful.
Previous winners ApTap, Snugg Energy and Lightning Reach are currently delivering money savings opportunities for TSB customers by providing utility switching; energy efficiency and financial hardship services respectively.
Aruna Bhalla, head of partnerships & open banking, TSB says: “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.”
Applications will be closing on Monday, 4th September. Application forms can be found on the FinTech Scotland website: TSB Innovation Labs - FinTech Scotland.