Source: TSB press release
TSB has today announced Sikoia, Credit Canary, and Aperidata as the winners of its 2024 Innovation Labs programme, in partnership with Fintech Scotland.
Each year, the programme provides up to 15 new fintechs with the opportunity to develop and grow their propositions with insight and guidance from TSB experts based at the bank’s Technology Hub in Edinburgh. Now in its fourth year, the programme continues to drive innovation for customers, while boosting entrepreneurialism in Scotland.
The winners were chosen for their potential to enhance the future of banking. While Sikoia is set to make finance applications simpler for new customers, Credit Canary and Aperidata are on course to speed up credit scoring and the time it takes for customers to get a decision about borrowing from banks. All three winners will now work closely with TSB to develop Proof of Concepts to help deliver these improved experiences for its customers.
Previous winners of the TSB Labs programme include Lightning Reach – a portal that helps customers to access financial support, such as grants and benefits – all in one place. Since launch in 2024, TSB customers have benefited from over £160,000 in grants, with an average payment of £500 per customer.
ApTap, another previous winner, provides customers with an easy way to save on their household bills by comparing them to the latest deals on the market. In 2024, ApTap saved TSB customers over £65,000 on broadband bills alone, with an average saving of £150 per customer.
Adam Betteridge, fintech & Open Banking lead at TSB said: “We are incredibly proud of the progress made by these three innovative fintechs during the TSB Labs programme. Over the last 12 months, Sikoia, Credit Canary and Aperidata have demonstrated exceptional potential to help TSB customers get support more quickly.
FinTech Scotland chief executive officer Nicola Anderson
“Their innovative solutions use data and technology in new creative ways to help provide an even better experience for TSB customers. We’re looking forward to what comes next.”
Nicola Anderson, chief executive officer at Fintech Scotland, said: “We are delighted to witness the success of Sikoia, Credit Canary and Aperidata through the TSB Labs programme. These innovative fintech companies show how data and AI can be harnessed to deliver real impact for people and communities.
“At FinTech Scotland, we believe meaningful collaborations are the key to unlocking innovation and this partnership with TSB demonstrates the powerful outcomes that can be achieved when new innovative firms and progressive established companies work together to shape the future of financial services.”
Further reading: AperiData collaborates with TSB Bank on Open Banking proof of concept
