Page 272 - Bank Case Studies

TSB - IT Fiasco (what happens when online fails and there is little backup)

th
On 20 April 2018
the carefully

applied gilt on TSB

began to flake off.

After years of

planning, TSB

planned to shut

down various

services for two days whilst it migrated data from records of

1.9 million customers to a new IT system designed, "for the

digital age".

After six days when around half of TSB's customers had

been unable to access their online accounts Pester
commented that the bank was "on our knees" but pledged

"we will get up and come back fighting" (17) and had drafted

in experts from IBM, who would report "directly" to him.

“TSB’s new core banking system is known as

Proteo4UK, it is a UK-specific version of Sabadell’s

existing core banking system, Proteo. If all goes to plan,

Proteo4UK will support TSB in the digital banking age

and enable it to challenge bigger banks by offering

fintech services like some of the UK’s digital challenger

banks do.” (18)

TSB currently paid Lloyds Bank substantially more than £200

million a year for the lease of its IT platform. Moving to