TSB pins £330m cost on IT meltdown as it posts £115m annual loss

clock
As a result of TSB's well-publicised IT migration problems fraudsters got away with an awful lot of sausages
Image:

As a result of TSB's well-publicised IT migration problems fraudsters got away with an awful lot of sausages

Botched IT platform migration costs included compensation, fraud, additional resources - and the job of CEO Paul Pester

TSB's IT meltdown in spring last year cost £330.2 million in total, according to the bank's 2018 annual results, contributing to a £101 million annual net loss. The losses would have been higher were...

To continue reading this article...

Join Computing

  • Unlimited access to real-time news, analysis and opinion from the technology industry
  • Receive important and breaking news in our daily newsletter
  • Be the first to hear about our events and awards programmes
  • Join live member only interviews with IT leaders at the ‘IT Lounge’; your chance to ask your burning tech questions and have them answered
  • Access to the Computing Delta hub providing market intelligence and research
  • Receive our members-only newsletter with exclusive opinion pieces from senior IT Leaders

Join now

 

Already a Computing member?

Login

More on Communications

Industry Voice: The Secret to Setting Up a Successful Digital Workspace

Industry Voice: The Secret to Setting Up a Successful Digital Workspace

VMware
clock 16 March 2022 • 3 min read
Most areas of financial services have been quick to adapt to the consumerisation of IT - but not motor insurance

The final frontier of financial consumerisation

The consumerisation of IT has completely changed almost every element of financial services, bar one: motor insurance. But why - and, more importantly, what kind of service are drivers likely to see when this sector finally follows in the footsteps of...

Callum Rimmer
clock 16 December 2021 • 5 min read
Alexandra Coulson, Global Head of Marketing, disguise

Making your mark: how to reinvent a brand in tech

When I joined visual storytelling technology company, disguise, I wanted to "make my mark" by helping disguise redefine its brand and marketing approach.

Computing
clock 17 November 2021 • 6 min read