TSB to take technology inhouse after IT meltdown
TSB is discontinuing its contract with Banco Sabadell tech subisidiary Sabis in order to bring its IT responsibilities back inhouse following the badly botched migration to the Spanish bank’s platform last year.
The UK bank has spent the best part of the last year in recovery mode following a shambolic switch to Sabadel’s Proteo4 platform which saw millions of customers locked out accounts for several weeks. The fiasco cost the bank £330 million in remediation and compensation claims and the chief executive his job.
With the majority of fixes now complete, TSB says it plans to cut its contract with Sabis and take direct ownership of its IT estate, including contractual relationships with third party technology suppliers.
Mike Errington, who has been working at TSB for the past three months, is appointed chief information officer with a brief to take full ownership of the bank’s tech platform and to create new technology capability within TSB.
Carlos Abarca – who spent three years at TSB as CIO and chief migration officer – is appointed chief technology innovation officer, “helping position TSB for the future utilising his extensive knowledge of the platform capabilities and drawing on his wide-ranging industry experience”.