Home Business NewsBusinessBanking News TSB pledges £120m to ‘strengthen IT’ in major overhaul

TSB pledges £120m to ‘strengthen IT’ in major overhaul

by Peter Smyth Tech Journalist
15th Jan 20 1:09 pm

TSB has pledged £120m to “strengthen IT resilience” in a major overhaul to the banks computer systems over the next three years.

IBM are to manage the banks cloud platforms and run the computing infrastructure with TSB supervising.

The bank said the changes will “strengthen IT resilience and leverage higher value technology, including AI, to deliver new innovative cloud-native services to its customers.”

Debbie Crosbie TSBs new chief executive want to avoid the major outage that took place in 2018 and locked out 2m customers crippling the banks reputation.

Internet banking, mobile banking cash point machines and TSB branches will all work through the same cloud platform.

TSB chief operating officer Suresh Viswanathan said, “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.”

The new £120m deal will create 100 new jobs as the bank are to open a new technology centre in Edinburgh.

Tosca Colangeli, a technology manager at TSB said, “Banks need a reliable, resilient and secure technology environment to meet the needs of customers and address complex security and regulatory requirements.”

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