As part of its 2022 strategic plan, TSB intends to transform its digital channels by investing £120m over three years
UK-based retail and commercial bank TSB has selected IBM Services, to accelerate its transformation into a digital business, leveraging IBM’s cloud capabilities.
As part of its 2022 strategic plan, announced in November 2019, TSB has decided to transform its digital channels by investing £120m over three years.
In addition, the bank’s decision on digital transformation follows its commitment to consolidate IT operations and optimise IT infrastructure, which was announced in March 2019.
TSB chief operating officer Suresh Viswanathan said: “Our partnership with IBM marks the next exciting phase in our tech transformation. At a time when both the pace of change and the customer demand for new services is increasing, our partnership ensures our digital offering remains competitive and allows us to act faster to meet the needs of TSB customers.”
IBM to build and manage TSB’s private cloud environment
Under the services agreement, IBM will create and manage the private cloud environment for TSB, running services across TSB’s core banking platforms. Under TSB’s supervision, IBM will operate and manage the entire infrastructure.
In addition, TSB is expected to strengthen its IT resilience and leverage higher value technology, including AI, to deliver new innovative cloud-native services to its customers by hosting and managing some services on a private cloud, which will be operated by IBM.
TSB said that the collaboration marks the first step in its strategy to optimise the new platform, which facilitates all core banking channels and applications including ATMs, internet banking, mobile banking and high street branches of the bank run on a unified cloud platform.
In addition, the bank also intends to build a new Technology Centre in Edinburgh, creating approximately 100 new IT jobs in the region, and is expected to be opened in April 2020.
IBM UK and Ireland global technology services general manager Tosca Colangeli said: “As the financial services industry continues its rapid digital transformation, banks need a reliable, resilient and secure technology environment to meet the needs of customers and address complex security and regulatory requirements.
“An open hybrid IT cloud platform, built and managed with IBM’s deep industry expertise, is the best foundation for financial services providers to respond to these challenges and prepares them to securely integrate with IBM financial services ready public cloud capabilities in the future.”