TSB engages software giant IBM to resolve IT crisis
UK retail and commercial bank TSB has announced during its first quarter results call that it has brought in software giant IBM in an attempt to resolve its recent IT crisis, which resulted from a failed system upgrade scheduled to take place between April 20 and April 22.
The bank moved its five million customers and their 1.3 billion records to its new banking platform built by Spanish owner, Banco Sabadell, in a bid to move away from legacy technology implemented by the bank's former owner Lloyds.
As a result, over the last week, TSB customers have experienced problems accessing their accounts via the bank’s website and mobile app. It has been reported that some customers have been wrongly credited, and others unable to access their funds at all.
Sabadell and TSB have appointed IBM in a systems integration role, to help identify and resolve performance issues in the new platform.
In a statement, Paul Pester, TSB Chief Executive Officer, apologised to customers for an “incredibly bumpy” move to the new banking platform and reassured customers that the engine room of the bank is now working as it should. However, “the challenge we are facing at the moment is that while we know it’s working, one of the main ways that our customers see everything is working – through our internet banking and mobile app – isn’t functioning as well as it should be, and I can appreciate how frustrating this must be for our customers,” he added.
[Photo: Bloomberg Finance LP.]