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TSB and Fintech Scotland Launch new Edition of Fintech Innovation Labs

UK-based commercial bank TSB Bank has launched its latest ‘TSB Innovation Labs programme’, in collaboration with Fintech Scotland – to encourage a new round of fintech collaboration.

Under the TSB and Fintech Scotland-led programme, winning fintechs will officially partner with the bank to offer innovative services and money-saving solutions to customers, as it looks to expand its fintech partnership programme.

The scheme also aims to boost the UK’s fintech sector: between 10 and 20 successful applicants will develop their proposition under the guidance of TSB business leaders and experts in TSB’s Edinburgh Tech hub to ready themselves for market by developing propositions across four areas:

  1. Money Confidence: Deliver partnerships that boost households’ ‘Money Confidence’ – helping people better manage their finances and make more of their money.
  2. Inclusive Services: Successful applicants will develop inclusive financial services for TSB customers.
  3. Delivering Differently: Deliver partnerships that create positive career experiences for TSB colleagues – from career development and engagement to cost-of-living support.
  4. Wildcard: TSB is encouraging fintech applicants to deliver creative propositions to meet an array of customer needs.

The programme, hosted in TSB’s Edinburgh Technology Centre, will run until the end of the year. 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.

Aruna Bhalla, head of partnerships and open banking at TSB, 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, chief executive of Fintech Scotland, said: “We are excited to join forces with TSB once again to discover and accelerate some of the most innovative fintech companies.

“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.”

The programme’s past winners 

Previous winners ApTap, Snugg Energy and Lightning Reach are currently delivering ‘Money Confidence’ for TSB customers by providing utility switching; energy efficiency and financial hardship services respectively.

Robin Peters, chief executive at Snugg Energy, said: “TSB’s Labs programme has been invaluable in enabling us to develop our proposition and cater to the needs of TSB customers.

“Thanks to our collaboration with TSB, we are now able to make energy-efficient homes simple and affordable for thousands of homeowners. We’d encourage any innovative fintechs to apply – and hopefully, your proposition will be delivering results for customers in no time.”

Ren Hoi, founder and chief executive of Lightning Reach, said: “We were delighted to take part in the TSB Labs programme and develop our business together.

“The partnership is now fully operational, and we’re excited to have empowered thousands of TSB customers 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.”


  • Tom joined The Fintech Times in 2022 as part of the operations team; later joining the editorial team as a journalist.

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