The cluster management organisation said the collaboration with Tesco Insurance will connect the business with leading innovators to help shape future customer propositions. 

It aligns with the company’s digital strategy to deliver greater customer value by continuing to strengthen its technology capabilities, following the sale of its banking operations to Barclays UK in late 2024.

Tesco Insurance and Money Services offers full portfolio of insurance products, including car, home, pet, life and travel, as well as gift cards and travel money. By joining FinTech Scotland’s network of strategic partners, which includes leading financial services firms, academia, technology providers and public sector organisations, Tesco Insurance and Money Services will support initiatives that drive innovation, encourage collaboration and build cross-regional partnerships across the fintech ecosystem.

Aleks Tomczyk, chief executive at 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.

“The collaboration will further strengthen Scotland’s fintech ecosystem and support regional growth, reinforcing Scotland’s position as one of Europe’s most dynamic and collaborative fintech clusters.”

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. As we continue to invest in the technology and partnerships that will support our culture growth, we’re proud to play our part in Scotland’s fintech success, supporting growth and job creation.”