TSB Banking Group is today providing an update about its new state-of-the-art banking platform.
The timetable for rolling-out the platform to all TSB customers.
The impact the new platform will have on TSB in its mission to bring more competition to UK banking.
The unveiling of the new banking platform in November.
Paul Pester, TSB Bank CEO says: "Over 2,500 man years of effor by TSB, Sabadell and our technology partners means TSB will be the first major bank in the UK to have designed and built a new banking platform for the digital age.
“The new platform is already being used to support a number of our core services and customers are starting to see the benefits through our new TSB banking app – the first in Europe to integrate iris scanning security features.
“We’ve achieved a significant number of milestones already but, we’ve decided to re-plan the roll-out of the new platform scheduled for November, into Q1 2018. This means we’ll be able to focus one hundred per cent on helping our customers understand the implications of the widely anticipated base rate rise on 2 November 2017.”
The new platform will be rolled-out to TSB Partners from November, providing a full suite of banking services – including current accounts, debit cards, credit cards and savings accounts – as well as to provide mortgage brokers with access to TSB mortgages.
TSB is re-planning the final phase of the roll-out of the platform, originally scheduled for 4/5 November, into Q1 2018 since this is just two days after the widely anticipated first base rate rise in the UK for over a decade.
The re-planned roll-out will enable TSB to focus on communicating the effects of the widely anticipated base rate increase to its five million customers over the weekend of 4/5 November.
Impact on TSB
Paul Pester continues: “The new platform will enable TSB to redouble its efforts to bring more competition to UK banking – in both the retail and SME banking markets.
“Importantly, the new platform will position TSB well to compete for one of the £100m+ grants from the Capability and Innovation Fund recently announced by the UK Government and aimed at bringing more competition to the UK small business banking market.”
November showcase media event
TSB is pleased to announce that it will be showcasing its new purpose-built banking platform, Proteo4UK, in November.
The showcase event will provide the opportunity to meet frontline TSB partners who have been involved in the design and build of the new platform – and to experience the capability of the platform for themselves. Technical experts involved in the design and build will also be on-hand to explain the thinking behind the state-of-the-art design and construction.
A media call and invitation will be issued in due course.
Investors and analysts
Notes to editors
TSB was built to bring more competition to UK banking and ultimately make banking better for all UK consumers. TSB only serves local customers and local businesses, to help fuel local economies, because communities thriving across Britain is a good thing for all of us.
We have a simple, straightforward and transparent banking model and make clear on our website how we operate and make money. We offer the products and services people tell us they want, with none of the funny stuff people normally associate with traditional banks.
Our five million customers appear to notice: TSB is Britain’s most recommended high street bank and was recently identified as one of the top 10 big companies to work for.
For further information about TSB Bank plc, please visit our website www.tsb.co.uk.