Tesco Insurance & Money Services has joined FinTech Scotland as a strategic partner, with plans to connect with fintech innovators and develop future customer propositions. The partnership will support collaboration across a network that brings together financial services businesses, universities, technology providers and public sector organisations.
The business joins FinTech Scotland’s 37-strong network of strategic partners. It will support initiatives to encourage innovation and build partnerships across regions.
Tesco Insurance & Money Services serves more than two million insurance customers across the UK and has operations in Edinburgh and Glasgow. Its products include car, home, pet, life and travel insurance, alongside gift cards and travel money.
The partnership forms part of the company’s digital strategy to strengthen its technology capabilities and deliver greater value to customers. It follows the sale of its banking operations to Barclays UK in late 2024.
Aleks Tomczyk, chief executive of FinTech Scotland, said: “We’re delighted to welcome Tesco Insurance and Money Services as a Strategic Partner. Their active participation in the community will help Tesco IMS innovate and bring even better services to customers. Tesco IMS’s specific customer focus and commitment to innovation will also add real value to our existing stakeholders.”
Alongside its insurance and money services products, the business operates a network of more than 3,400 ATMs across more than 3,000 Tesco and One Stop stores. The collaboration is intended to help it build new relationships with innovators as it continues to invest in technology and partnerships.
Darren Coomer, chief information officer at Tesco Insurance and Money Services, said: “We’re entering an exciting new chapter for Tesco Insurance and Money Services, and joining FinTech Scotland is a natural next step for our business. It will help us tap into leading innovators, build new partnerships and keep delivering simple, rewarding and trusted services for customers.”
