New chapter for Touco
It’s been a while since we gave an update about Touco. The last one was way back in June, which feels like a lifetime ago for us (and probably you too!).
Back then we were busy working on our app and designing a Care Card, but in late summer and early autumn, our plans started to change.
What we’ve been up to
We’ve spent the second half of 2020 working on research projects, learning a lot more about working with vulnerable customers, especially when building with Open Banking.
As part of the Nesta Open Up 2020 Challenge, we built, launched, and tested our new app for carers. We also designed a new type of prepaid card, the Care Card, to enable safe spending during periods of shielding.
We are deeply grateful to OB4G, Nesta, and Innovate UK for sponsoring some of our research so far. Over the last 18 months, we have been able to explore these topics in-depth, leading the charge in exploring Third Party Access, knowing that we’re working on big problems that affect millions of people.
However, like many businesses our plans have been impacted by COVID-19. The projects we were confident about securing earlier this year have unfortunately been paused, and so we have sadly had to make redundancies in our team.
Touco alumni
Letting people go was a really tough decision to make. We loved working with our team and are proud of the work we did together. But by cutting back now, the three of us in the founding team can protect Touco going forward, and that means we can continue our work and have an impact in the future.
We wanted to showcase how our amazing team is doing now that they’ve flown the Touco nest. We’re so pleased that they’ve all landed on their feet and are excited to stay in touch as they continue on their wonderful new adventures.
Here are their profiles and where they are now:
Lilian Tula, our former Head of Design – Lilian has set up Goody Please Ltd to provide her design expertise as a consultant, having moved out of London. She is also launching a weekly food business dishing up her famous Tamales.
Martin Wenisch, our former Software Engineer – Martin is now co-founder and CTO at Opiniohealth, working to democratise access to cancer advice for patients in developing countries.
Nikki Adebiyi, our former Community Lead – Nikki has been pouring her energy into BounceBlack, where she is founder and curator-in-chief. BounceBlack is a community for black students and professionals who are navigating mental health and trauma recovery while building a career. Nikki is also a hugely talented freelance writer.
Luca Novellis, our former Software Engineer – Luca is leading the charge for Flutter at GoHenry as a Senior Mobile Engineer, changing the way kids learn about and manage their money.
Monica Walia – Monica generously donated her time to Touco as a Compliance Consultant while on furlough from her job in the summer. Now she’s working for Handelsbanken and getting involved in some really interesting projects on the side.
What’s next
It’s not all COVID-19 bad news for us. We’re still committed to building a sustainable social impact company that really makes a difference to people in difficult circumstances, and we have a few things on the go we’re planning to test. We’re excited to tell you more very soon!
As three experienced and dedicated founders, Emily, Evelina and I are ready to take on the challenge of rebuilding Touco stronger. We’ve been working together for over a year now as a trio and have all the skills between us that we need for this next step.
When we renamed to Touco we registered our new company name as ‘Touco Lab Ltd’. As Touco Lab we knew we were branching out beyond our original focus on building apps. Our emphasis right now is on the ‘Lab’ part of our name, since it symbolises the research and continual learning that we love to do.
In the meantime, we’re available for consulting work and projects with companies and charities that want to learn from our expertise and have recently spent some time with the Money Advice Trust and Fair By Design writing practical guidance on inclusive design and vulnerability to coincide with the updated FCA guidance. Look out for it in January 2021.
Work with us
Through the last year we’ve developed enormous expertise in inclusive design, Third Party Access, vulnerability (especially around FCA regulated firms), Open Banking, the care sector and informal carers, prepaid cards and e-money, Power of Attorney, financial capability, and the link between money and mental health. Phew!
If you’re an FCA regulated firm who wants to do better (or needs to shape up to align with the latest FCA guidelines) or a charity who supports individuals who are left out of mainstream services, let’s talk.
With the pandemic and associated economic uncertainty, the products and services we are working on are more needed than ever. If you want to work with us, get in touch at info@usetouco.com.
