ao link
0 £0.00
This item was added to your basket
Credit Strategy homepage
LinkedIn
Twitter
Intelligence, Insight and community for responsible professionals in credit

TSB hires IBM to overhaul IT after 2018 issues

TSB has struck a deal with IBM that will see the software giant take control of the bank’s IT systems as it seeks to put its 2018 data breach behind it.

Under the deal, IBM will run take control over the running of TSB’s ATMs, digital banking and high street branches. The bank’s credit risk and collections functions will see no major changes.

 

The announcement forms part of the bank’s pledge to invest £120m to transforming its digital channels by 2022.

 

In April 2018, around two million customers lost access to their online banking services after a botched introduction of a new computer system. The problems left customers unable to access their accounts or make payments, while others were shown incorrect information, and in some cases the details of other people’s accounts.

 

The issues stemmed from when TSB split from Lloyds Banking Group. It continued to rent a banking platform from Lloyds while it constructed its own, Proteo4UK. The problems persisted for months, and in September 2018, chief executive Pester stepped down over the issues. He has since been replaced by Debbie Crosbie.

 

The services agreement will see IBM build and manage TSB’s private cloud environment, running services across TSB’s core banking platforms with all of the infrastructure being operated and managed by IBM under supervision by TSB. TSB hopes that by hosting and managing select services on a private cloud, operated by IBM, it will be able to strengthen its IT resilience and “leverage higher value technology”, including AI, to deliver “cloud-native” services to its customers.

 

As part of the deal, TSB will itself also create a technology centre in Edinburgh, creating around 100 IT jobs.

TSB’s chief operating officer, Suresh Viswanathan, said: “Our partnership with IBM marks the next exciting phase in our tech transformation. At a time when both the pace of change and the customer demand for new services is increasing, our partnership ensures our digital offering remains competitive and allows us to act faster to meet the needs of TSB customers.”

Please login to continue reading this article.

Not a member?

Become a member

FREE registration. No credit card required

Register now
  • Stay up-to-date with industry news and appointments
  • Hear about events first
  • Read 1 free Premium article per month

Become a premium member

From as little as £3.48 per week

Become Premium
  • All the perks of a standard member plus:
  • Access to the entire Credit Strategy website
  • 12 months subscription to Credit Strategy Magazine
  • 25% discount to all conferences
  • Exclusive access to Premium Member only roundtables
  • 50% off award entry fees

GET THE LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group