TSB hit by online banking problems after IT upgrade – business live

A branch of TSB bank in London.

TSB’s parent company, Banca Sabadell, thinks the IT migration is a success!

It has released a press release trumpeting the move, even though TSB has admitted there have been problems.

Apparently the new IT platform is a “milestone” for the bank (although it may feel more like a millstone for some customers right now).

It says:

Banco Sabadell has successfully completed the TSB technology migration. The implementation of the new Proteo4UK platform represents a new milestone in the history of Banco Sabadell Group, and particularly in its progress in terms of the bank’s internationalisation. It is also the first ever project outside of Spain in which the bank has created a new banking platform from scratch and completed a large scale migration of the platform.

The Chairman, Josep Oliu, has emphasised that “with this migration, Sabadell has proven its technological management capacity, not only in national migrations, but also on an international scale. The new Proteo4UK platform is an excellent starting point for the organic growth of the business and the improvement of TSBs efficiency”.

Oliu also stated that “more than 5.4 million customers are now integrated into the new platform, which allows us to grow in a market as mature and highly competitive as the UK market.” Equally, the Chairman has also stated that the migration will provide a “greater competitive capacity and increased value creation for our franchise.City AM’s Emma Haslett points out that TSB hopes to slash its costs through this IT move.Perhaps some of those saving could be put towards a compensation pot for those who suffer losses through today’s problems.

It’s now more than 21 hours since TSB’s online banking systems were due to be working again… but some customers are still experiencing problems.

Jewellery maker Barbara Adamiec reports that it’s damaging her business today:

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