Page 273 - Bank Case Studies
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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).
