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Home » Fintech Scotland and TSB unveil a new innovation lab initiative.
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Fintech Scotland and TSB unveil a new innovation lab initiative.

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Fintech scotland and tsb unveil a new innovation lab initiative.
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Fintech Scotland and TSB Labs Launch New Innovation Program

Fintech Scotland has announced an exciting new innovation initiative in partnership with TSB Labs, unveiled during Money20/20, Europe’s premier fintech conference. This program signifies a commitment to addressing urgent challenges within the banking sector, particularly the rising issue of fraud.

Addressing Fraud: A Key Focus

The award-winning TSB Labs is taking another bold step in collaboration with Fintech Scotland to tackle one of the most pervasive crimes in the UK: fraud. This year’s program aims to not only prevent fraudulent activities but also ensure that customers experience a streamlined and transparent journey throughout their banking interactions.

Building on Previous Successes

This innovative program builds on the achievements of prior cohorts, which have led to the launch of several successful pilot projects. These initiatives have garnered recognition, including accolades from the Scottish Fintech Awards for excellence in financial services innovation.

Global Opportunity for Fintechs

With the 2025 innovation program now open for applications from fintech companies around the globe, this presents a unique opportunity for organizations ready to implement practical solutions within real banking environments. Interested fintechs can find more information and apply through the Fintech Scotland website.

Expert Insights from Leadership

Nicola Anderson, CEO of Fintech Scotland, expressed excitement about the initiative, stating, “We are thrilled to partner once more with TSB to announce this innovation program at Money20/20. The TSB Labs exemplifies how traditional financial institutions can collaborate with fintechs to create a meaningful impact for customers. Our focus on fraud as part of the financial regulatory innovation program will leverage extensive expertise, knowledge, and valuable connections through the Scottish Fintech Laboratory.”

Challenges Inviting Creative Solutions

The program outlines three specific challenges for fintechs to address:

  • Unexpected Messaging and Education: Enhance fraud detection through swift, reliable, and effective customer communication.
  • Authorized Client Controls: Enable quicker decisions regarding authorized payments by providing customers with greater control and clarity.
  • Transparent Resolution: Streamline the process of fraud reporting and resolution, focusing on the needs of the customer.

A Collaborative Approach to Combating Fraud

Richard Daniels, Director of Fraud and Financial Crime Operations at TSB, commented, “Fraud is continuously evolving, just like us. The TSB Labs program offers an exceptional opportunity for us to collaborate with innovative fintechs to discover smarter, faster, and more effective methods to protect our customers.”

Engagement Phases and Application Details

The program provides a structured two-phase engagement culminating in a final pitch to TSB decision-makers, potentially leading to pilot deployment. All interested parties are encouraged to check the Fintech Scotland website for details and to fill out the brief application form, with submissions closing on June 25, 2025.

Fintech initiative innovation lab Scotland TSB unveil
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The Fintech AI Bankx startup participates in the government initiative to grow Silicon Valley.

June 25, 2025

A fundamental issue with increased regulations in essential finance is the occurrence of AI hallucinations.

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