Page 16 - TSB G Case Study
P. 16
TSB currently paid Lloyds Bank substantially more than
£200 million a year for the lease of its IT platform. Moving
to Proteo4UK would cut TSB’s costs by between £100 and
£160million per year. (18)
The process involved changing from an inherited system
run by its former parent bank, Lloyds, to one managed by
its new Spanish owner, Sabadell, with an estimated
saving of £100m plus a year.
The move had already been delayed since November of
the previous year.
The importance of online banking had been steadily
rising as Diagrams 1, 2, 3 show and TSB was not slow in
appreciating its importance for its future growth and
development.
In contrast bank branches are supposed to be a thing of
the past. In Britain they’ve been closing at a rate of about
300 a year since 1989, accelerating to more than 700 in
2017 (21).
