TSB joins forces with FinTech Scotland to launch Edinburgh 'innovation lab'

TSB has joined forces with industry cluster body FinTech Scotland in a bid to find new financial technology partners.

The bank is launching an innovation lab in Edinburgh with FinTech Scotland, and is inviting fintech-focused small and medium-sized enterprises (SMEs) to collaborate to address “relevant customer challenges”.

Three key challenges set out are: helping SMEs run and grow their business, helping customers deal with the challenge of the cost-of-living crisis, and “technology solutions” to improve customer and SME engagement on sustainability and climate change.

Successful applicants will work with TSB over a 12-week period as they develop proof of concepts in collaboration with the bank.

Customer banking director Mark Curran said: “Customer demand for digital services is soaring, so by partnering with cutting-edge fintechs we can be even more innovative in delivering for our customers.

“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.”

The lab will be based in TSB’s George Street headquarters, Henry Duncan House.

Nicola Anderson, chief executive of FinTech Scotland, added: “The TSB Lab is a great example of collaboration, creating an environment where an established financial institution can partner with newer fintech innovators.

The lab will be based in TSB’s Edinburgh George Street headquarters, Henry Duncan House.

“It gives fintech SMEs an opportunity to access market needs and work with TSB’s experts to provide innovative solutions to over five million customers. We’re delighted to partner with TSB on this innovation call, aligning with our Fintech Research and Innovation Roadmap.”