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.
It’s why collaboration and innovation through partnerships are important to us.
Engaging and working with partners who can help us transform both our Retail and SME business areas is key. Also, it means we can take entirely new propositions to markets, aligning with both our customer needs and our broader bank strategy.
A Proof of Concept (PoC) is the way these partnerships are usually created, as they allow us to move fast. The PoC will typically be a staff pilot first, a small customer pilot second, and then a full customer rollout. Along the way, you’ll have a TSB point of contact to support with engagement, plus agree and track any success criteria.
Sometimes, entering a partnership with a bank can be demanding, so we’re here to support you and make it as simple and straightforward as possible. That way, we ensure we deliver the best solutions we can for our customers’ needs.
We are a member of the Fintech Delivery Panel and have signed up to the Fintech Pledge, which means we’re committed to keeping our onboarding process clear and transparent.
To find out more about the principles of the pledge, click here.
We’ve outlined the process before a partnership can go live below:
Part 1 - Scouting:
Our Partnerships and Sourcing teams are continually scouting for best-in-class organisations we can partner with to meet a business or customer need.
Part 2 - Qualification and acceptance:
At this stage, you’ll have a Partnership Manager appointed to support you through the onboarding process. We’ll ask you to come in and present to business stakeholders how your proposition or technology can help us. We’ll also ask you to sign our standard NDA at this stage.
Part 3 - Onboarding and contract:
Now we’ll start to onboard you as a supplier to the bank. We’ll ask you to sign our standardised contracts as well as complete our policy due diligence where we review your information security policies, privacy policies, and anything else which is relevant for our engagement. You’ll meet with your Partnership Manager on an appropriate basis for updates. We may also ask you to register with Hellios, experts in supplier information and risk management.
Part 4 - Requirements and PoC start:
In parallel to part 3 we’ll work with you on requirements, metrics, and success criteria, then prepare the PoC for start. If any tech build is involved, we will let you know the process for this otherwise you’ll continue to meet your Partnership Manager to support you on updates throughout the process.
Part 5 - Contract signature and going live:
Finally, we’ll sign the contract, raise any purchase orders if needed, and look to progress the PoC to going live. We’ll meet regularly to review feedback, performance and market intelligence.
You can visit our TSB Marketplace to see some examples of some great customer-facing partnerships we’ve delivered through this process.