Announcing the triumphant contenders of TSB's 2024 Innovation Labs competition
TSB has announced Sikoia, Credit Canary, and Aperidata as the winners of its 2024 Innovation Labs programme. These innovative fintech companies are set to transform the banking sector, providing TSB customers with a superior experience.
Sikoia, one of the winners, is poised to simplify finance applications for new customers. Although the exact nature of Sikoia's solution in TSB's Innovation Labs is not yet clear, the company's focus on financial technology and security aligns with TSB's emphasis on fintech and banking innovations.
Credit Canary, another winner, is likely to bring credit assessment enhancements to TSB. Typically, companies named Credit Canary specialise in credit risk monitoring and analytical tools, helping lenders make better credit decisions.
Aperidata, the third winner, is collaborating with TSB Bank on an Open Banking proof of concept. This collaboration is expected to deliver advanced data-driven insights or credit risk management tools for TSB customers.
Adam Betteridge, fintech & Open Banking lead at TSB, is proud of the progress made by Sikoia, Credit Canary, and Aperidata during the TSB Labs programme. The partnership between FinTech Scotland and TSB has resulted in powerful outcomes in shaping the future of financial services.
Nicola Anderson, chief executive officer at Fintech Scotland, is delighted to witness the success of Sikoia, Credit Canary, and Aperidata through the TSB Labs programme. The winners were chosen for their potential to enhance the future of banking.
Since launch in 2024, TSB customers have benefited from over £160,000 in grants, with an average payment of £500 per customer. Previous winner Lightning Reach is a portal that helps TSB customers access financial support, such as grants and benefits, all in one place.
The innovative solutions of Sikoia, Credit Canary, and Aperidata use data and technology in new creative ways to provide an even better experience for TSB customers. All three winners will work closely with TSB to develop Proof of Concepts to help deliver these improved experiences for its customers.
In 2024, ApTap, a previous winner, saved TSB customers over £65,000 on broadband bills alone, with an average saving of £150 per customer. Credit Canary and Aperidata are aiming to speed up credit scoring and the time it takes for customers to get a decision about borrowing from banks.
FinTech Scotland believes that meaningful collaborations are the key to unlocking innovation, as demonstrated by the partnership with TSB. These collaborations are paving the way for a future where banking is more efficient, accessible, and customer-focused.
- The collaboration between Sikoia and TSB Bank, as part of TSB's Innovation Labs programme, is focused on simplifying finance applications for new customers using financial technology and security.
- Credit Canary's innovation at TSB aims to bring credit assessment enhancements, utilizing credit risk monitoring and analytical tools, to help lenders make better credit decisions.
- Aperidata is working with TSB Bank on an Open Banking proof of concept, the goal being to deliver advanced data-driven insights or credit risk management tools for TSB customers.
- FinTech Scotland is proud of the partnership between itself and TSB, which has produced powerful outcomes in shaping the future of financial services, as evidenced by the success of Sikoia, Credit Canary, and Aperidata.
- The FinTech Scotland Technology Expo, which showcases innovations from fintech companies and banks, is a platform for witnessing the types of transformative solutions that TSB Labs has championed, such as those from Sikoia, Credit Canary, and Aperidata.
