Investment in security and a new datacentre

IT crisis: It’s been a trying year for the Scottish bank, which faced an IT crisis in April when what should have been a simple systems upgrade resulted in customers being locked out of their accounts for several weeks. This was then followed by another systems failure in September and an IT glitch earlier this month that prevented two million customers accessing their accounts. A new CEO, Debbie Crosbie, will take the reins in January following the resignation of her predecessor, and we predict a strategic shake-up, with various aspects of the company’s IT estate likely to come under review. IBM, which was brought in to compile a report following the first incident, has warned the bank to conduct more appropriate tests of its internal systems. It highlighted the need for more storage and we predict that it will invest in another datacentre devoted to its telephony and internet banking channels.

Security investment: Cyber security will clearly be a priority for the bank, and it is looking to improve its incident management systems to ensure that customer issues are identified and responded to in a timely manner. We expect that it will explore innovative and next-gen security solutions next year, such as implementing iris scanning technology for its mobile banking app. The company has been in discussions with parent company Sabadell over ways it can in-source its IT infrastructure from Sabis and manage it directly.

Funding for innovation: Alongside Santander and a number of small “challenger” banks, TSB has been shortlisted to receive funding from RBS as part of the terms of its bailout agreement with the UK government in 2008. With these funds likely to become available soon, we expect TSB to have the means available for increased investment in digital solutions and innovation in 2019.

Revenue: £900m

Financial year end: December 31st

IT suppliers: Oracle Dynamic Monitoring Service, Microsoft Azure, LBG, SABIS

New appointments this year:

CTO – Damon Roberts

CEO – Debbie Crosby

Other key contacts

CIO & Head of Migration – Carles Abarca

Digital Innovation & Transformation Director – Pol Navarro

CISO – Scott Barnett