TSB Launches Fourth Innovation Labs Programme to Boost Fintech Collaboration

TSB and Fintech Scotland invite fintech startups to apply for the fourth Innovation Labs, focusing on open banking, while also announcing a partnership with Doshi for financial education.

This year, TSB is looking to work with fintechs that have open banking propositions that will deliver money confidence to customers, offering them a more personalised experience and access to a range of financial products such as savings, insurance, investments and pensions.

The scheme offers up to 15 successful applicants the opportunity to develop their proposition with the guidance of TSB experts at TSB’s Edinburgh headquarters, Henry Duncan House.

TSB has also announced a six-month partnership with fintech Doshi to create a learning gaming app to support TSB’s Money Confident Communities financial education programme. The programme, which has been in place for three years, involves TSB colleagues volunteering at local schools to help young people as they take their first steps towards financial independence.

“If you’re one of the 200 fintechs based in Scotland, now’s your chance to submit your application to help shape how TSB delivers money confidence through open banking,” said Aruna Bhalla, head of partnerships and open banking at TSB.

Nicola Anderson, chief executive at Fintech Scotland, also added: “We’re delighted to work with TSB and continue to be inspired by TSB’s approach to supporting fintech development, working in true partnership on solutions and propositions for customers.

“This year’s programme, focused on open banking is a sign of the continued value open banking innovation presents for the future of the banking sector. It’s an exciting opportunity and I’m looking forward to the seeing the results and partnerships develop”.

Additionally, Daniel Rose at Doshi App Ltd, commented: “As a startup, you don’t get many opportunities to collaborate with senior leaders of a leading UK bank. Working with TSB has enabled us to co-create an exciting solution with the potential to change the lives of thousands of young adults.”