TSB Bank introduction
TSB is a retail bank with a heritage stretching back to the start of the savings bank movement 200 years ago, that provides full banking services to more than five million customers. TSB operates on a modern banking platform and serves its customers through digital channels, over the phone and in branches across the UK.
TSB’s purpose is to provide Money Confidence for its customer base – helping households achieve their goals and better make more of their money. Money Confidence. For Everyone. Everyday.
Ambition of Labs 2023
At TSB, we know that fintechs are making a major contribution within today’s banking industry, because they can evolve new propositions, helping customers make more of their money. Collaboration and innovation through partnerships are important to TSB, for more information please see our Fintech Pledge.
TSB is looking to develop more partnerships with fintechs and innovative companies through our TSB Labs programme in order to best serve the dynamic needs of TSB customers. These partnerships both help TSB achieve its innovation ambitions but also opens up access to the bank for UK’s fintech startups for collaboration and mentorship as part of the accelerator programme.
Areas of focus
Money Confidence
From getting by to going out, money is on everyone’s minds. We want to help boost households’ money confidence – helping people better manage their finances, and make more of their money.
Do you have a proposition that can help people achieve this?
Listed below are some examples of use cases that fit within this theme. It is not an exhaustive list; you might have a proposition that fits one or many of these or have your own idea of how we can address this theme. We welcome a broad range of fintech applications.
More information on TSB’s Money Confidence strategy hereÂ
Example use cases:
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Help young people to be more confident with their money.
Support people with their savings by engaging in new ways.
Help first time buyers save and get on the property ladder using new tools and technology.
Make lending easier to access and more inclusive for customers.
Help TSB demonstrate our commitment to sustainability through customer propositions, like rewarding customers for sustainable choices and actions.
Help customers identify more ways they could potentially save money.
Help small businesses be more confident with their money.
Inclusive Services
We want to ensure the financial services we provide are inclusive for our customers as well as our colleagues. Do you have a proposition that can help TSB offer more inclusive services?
An integral part of TSB’s business strategy is the Do What Matters 2025 plan that brings together our social and environmental commitments to deliver a long-lasting and meaningful impact for our customers, colleagues, suppliers and communities and to build on our credentials as a responsible business.
More information of the TSB Do What Matters Plan here
Listed below are some examples of use cases that fit within this theme. It is not an exhaustive list; you might have a proposition that fits one or many of these or have your own idea of how we can address this theme. We welcome a broad range of fintech Applications.
Provide more inclusive services for those that need them.
Provide additional support for vulnerable customers.
Support our customers who are living with disabilities.
Help create more inclusive services for customers who are facing challenges with the cost of living and who might be challenged by the high interest rate environment.
Support customers to become more confident preventing fraud.
Help TSB demonstrate our commitment to sustainability through customer propositions, like rewarding customers for sustainable choices and actions.
Delivering Differently
At TSB our colleagues’ experience is really important for us and we are passionate about creating great career experiences. We exist to help our customers make the most of their money, so that they can feel money confident every day.
When they feel more confident with their money, they can get more out of life.
We think TSB is a great place to work and we want to work with FinTechs who can help us make it even better.
Listed below are some examples of use cases that fit within this theme. It is not an exhaustive list; you might have a proposition that fits one or many of these, or have your own idea of how we can address this theme. We welcome a broad range of FinTech Applications.
Example use cases
Create tools for our colleagues to deliver services in new ways.
Provide additional support for colleagues who also are managing cost of living challenges.
Support our colleagues in their career development and learning in more engaging and inclusive ways.
Help our colleagues better understand their day-to-day performance to support their development tailored to them.
Deliver a better, even more engaged employee experience.
Wildcard
We invite applications from any fintech who have a proposition that could be great for TSB but doesn’t fit our themes.
If you have an exciting proposition that is ready to pilot with TSB retail or business banking customers or with TSB colleagues that is outside of our themes, please apply through this Wildcard route.
What can I expect?
TSB Labs 2023 is an accelerator programme designed to open up access for fintechs to experts from TSB with the intention of launching at least one new proposition from our Labs 2023 cohort.
Successful applicants will work with subject matter experts and dedicated Labs colleagues from TSB, to understand the opportunities at TSB today and then to refine and test the fintech’s value propositions to solve strategic TSB opportunities.
Fintechs that are part of Labs 2023 will have the opportunity to work closely with business sponsors from TSB and pitch their propositions to senior leaders, giving fintechs the chance to run a proof of concept and launch their proposition with TSB customers.
Key dates
TSB Labs 2023 is an accelerator programme that will run across five months and three different stages. At each stage there is an opportunity to pitch and selected fintechs will be invited to proceed to the next stage.
Applications Live: August 14th 2023
Successful fintechs invited to TSB Labs 2023: September 8th 2023
What happen if I'm selected
Phase 1: Understand fintechs offers
- One weekly hour session across four weeks sharing TSB insights and inviting fintechs to showcase their proposition
- Decision by TSB Labs team to progress fintechs to next stage
Phase 2: Collaborate with fintechs and help shape their offering to launch with TSB
- Series of sessions across eight weeks to work directly with TSB Labs team and relevant TSB business sponsor to shape the fintech’s proposition so that it fits within TSB’s strategy and offering
- Pitch to TSB senior leaders to select successful fintechs to progress to next stage
Phase 3: Launch ready
- Series of sessions across eight weeks to ensure fintechs are launch ready
- Pitch to TSB senior leaders to select winning propositions to launch with TSB
The TSB Labs team are proud to share that we’ve launched new customer propositions from every Labs Cohort.
In 2021 we launched a customer facing proposition with AppTap
In 2022 we partnered with Lightning Reach
In 2022 we also decided to embed Snugg's proposition in our customer journey.
How to get involved
