Page 221 - Flip Banks TG
P. 221
Issue 1
Customer Centric
Carlos Abarca, CIO of TSB, said the new system is
“customer centric by design” and “enables the open
banking revolution”. (1)
By July 2018 TSB were claiming to be getting back on track
after its IT failure of April 2018. However, many customers
were still suffering from its disaster and in September 2018
further breakdowns occurred and Pester resigned.
Claiming that TSB’s mobile app, online banking, telephone
banking and branch service levels were much improved is
not the same as solved.
Customers who are the focus of the bank’s strategy were
still being let down Mitigation of disruption by recruiting
over 1,800 people and redeploying a further 700 Partners
into customer-facing roles is a step after the event. Likewise,
stating that no TSB customer would be left out of pocket as
a result of these IT issues is a minimum that customers
would expect.
TSB’s financial performance in the first six months of the
year was significantly impacted by the IT migration with a
statutory loss before tax of £107.4 million.
As at 30 June 2018, TSB
total customer lending was £31.0 billion,
total customer deposits stood at £29.6 billion and
