Tesco picks C&W Worldwide for online bank network


Tesco picks C&W Worldwide for online bank network

Ian Grant

Tesco Bank has chosen Cable & Wireless Worldwide to provide managed datacentre services and hosted voice services to support its banking and insurance customer service centres in Newcastle and Glasgow.

C&W Worldwide will provide a range of solutions to ensure that calls from the bank's 6.5 million customers are routed to the right person, with enough information to settle the issue quickly and efficiently, the company said in a statement.

The service will use C&W Worldwide's global, high-speed next generation network. The network touches more than 400 towns and cities in the UK, with 802 unbundled exchanges covering 55% of the population. Internationally, the network stretches more than 500,000km, including interests in 69 global cable systems, and provides connectivity in 153 countries.

C&W Worldwide CEO Jim Marsh said, "We're absolutely delighted to be working with Tesco Bank, and are looking forward to providing the highest levels of service to them. The solutions we'll be providing will help Tesco Bank to deliver great service to its customers."

Tesco Bank is the UK's most successful supermarket bank. It has 6.5 million customer accounts across 28 products and services such as personal and item insurance, credit cards and personal loans, savings, and ATMs.

Tesco Bank uses multiple channels, including in-store, telephone and online, with some 60% of new sales coming from online.

The bank was launched in 1997 as a joint venture between Tesco and the Royal Bank of Scotland. In 2008, Tesco acquired RBS' 50% shareholding for £950m.

Tesco Bank now ranks seventh among UK credit card providers, with balances of about £2.3bn, and it holds £4.6bn in customer savings.

It has five in-store branches, one high-street branch in Silverburn, 130 foreign exchange bureaus in Tesco stores, and claims £1 in every £8 in a customer's pocket comes from a Tesco cash machine.

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