The money will be spent by the council on services for residents that will make the quality of living in the city better. Glasgow beat 30 other UK cities to the prize.
Projects on the table include real-time traffic information, apps to check when buses and trains are arriving, and a pothole reporting service. Facial analysis for the city's CCTV network and energy use monitoring to make electricity and gas delivery more efficient are also mooted.
"Glasgow has some quite extreme challenges - it has the lowest life expectancy of any city in the UK for instance - and the hope is that if we bring together energy, transport, public safety and health it will make it more efficient and a better place to live," Scott Cain, the TSB's project leader for Future Cities, told the BBC.