Main Menu

Bank expanding

TSB creating 100 Edinburgh jobs at new technology centre

TSB

More customers, but this branch in Edinburgh has now closed (pic: Terry Murden)

TSB is to open a 100-jobs IT centre in Edinburgh as it presses ahead with the transition to digital banking.

The £120 million investment is part of a three-year plan to serve its five million customers and comes after it suffered a serious IT meltdown in 2018.

It is the latest financial services firm to unveil investment in technology in Scotland following announcements buy by JP Morgan for a new regional HQ and Barclays’ commitment to a huge campus, both in Glasgow.

TSB also announced a partnership with computing giant IBM, to run its key banking platforms, including ATMs, digital banking and high street branch systems.

Almost two million customers at the bank lost access to online banking services in April 2018, after the introduction of a new computer system.

He said customers wanted better online banking, and that new TSB digital services developed in Edinburgh would help customers save and budget, as well as being able to look at their balances and transfer money.

TSB says half of all TSB products bought by customers are now purchased online, with the bank expecting that to increase to 80%. The bank has closed 17 branches in Scotland this year.

Float races funds

Float, an Edinburgh-based cash flow service for Xero, QuickBooks Online and FreeAgent, has completed a £1.5m seed funding round led by Marchmont Ventures.

The company intends to use the funds to open an office in Australia, continue to enhance its partnership program, and develop its forecasting solution for the needs of modern accounting firms.

See also

Tech boom: best ever year for investment




Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.