Sainsbury’s Bank has partnered with the cluster body for financial technology firms in Scotland in a bid to deliver better outcomes for its customers and “learn from” the nation’s thriving fintech sector.

The strategic collaboration with Fintech Scotland will enable the supermarket bank to collaborate with innovative leaders in technology, helping to shape future customer propositions.

Sainsbury’s Bank will also get involved in the work to progress the actions from the FinTech Research & Innovation Roadmap published by the cluster body in March, participating in projects around the theme of ‘everyday personal banking’ and ‘small and medium-sized enterprises banking’.

Nicola Anderson, chief executive, FinTech Scotland said: “Sainsbury’s Bank is an important and valuable contributor for the Scottish FinTech Cluster, and I am delighted it has joined the Fintech Scotland strategic partners.

“We’re looking forward to working with the team, learning from their experiences in building a digital bank and innovative mindsets, while supporting their future banking ambitions through fintech partnerships and actionable research.”

The new partnership builds on the “strategic digital emphasis” of Sainbury’s Bank in recent years, including the transformation of operational systems and platform to best serve its customers.  

The national chain’s operating model has been developed to advance “nimble and agile” ways of working, creating the right environment for its technology team to innovate and integrate new fintech solutions.

Simon Jacobs, chief operating officer, Sainsbury’s Bank said: “As we continue to look at how technology helps to take our business forward, and to deliver great propositions and products, for loyal Sainsbury’s and Argos customers, we’re delighted to be joining the FinTech Scotland cluster to play our part in ensuring Scotland seizes the fintech opportunity in terms of economic growth and job creation.”