Edinburgh-based TSB is set to open a new IT centre in the Scotland’s capital city this April as part of the bank’s three year plan, which was created following a massive IT meltdown in 2018.
The centre will become home to a number of IT specialists, data engineers and analysts. The investment is part of TSB’s overall plan to drive the bank forward, it said.
TSB, which is planning to shutdown several high street branches in Scotland, is also partnering with IBM. The partnership will see the computing giant run the bank’s key banking platforms, including ATMs, digital banking and high street branch systems.
In April 2018, nearly two million TSB customers lost access to their online banking services due to the bank’s failed computer system migration.
Commenting on the new centre, TSB customer banking director Robin Bullock said the bank was taking advantage of Edinburgh’s good supply of tech talent.
“At a time when the pace of change and customers demand for new services is increasing, this investment positions TSB to serve our customers even better and provide a major boost to the local economy here in Scotland,” he added.
- Money Advice Scotland to Pilot New Open Banking Tool
- The 5 Biggest Risks Facing Fintech Businesses in 2020
- Float Secures £1.5m Investment to Support International Expansion
Edinburgh, CBI Scotland director, Tracy Black, said of the investment: “Today’s announcement provides a welcome and timely boost to Scotland’s reputation as a global hub for innovation and high skilled technology jobs.
“For Scotland to punch above its weight internationally and attract vital overseas investment, we need to send out a clear signal that we’re not only open for business but building an economy for the future – TSB’s significant investment represents an important step in that direction.”
Scottish Digital Economy Minister Kate Forbes added: “We are committed to becoming a world-class digital nation and building our reputation as a digital leader.
“This is a welcome investment and will strengthen digital skills across the sector as well as further enhance Edinburgh’s reputation as a global financial technology centre.”