Tesco bank slows migration to banking system

Tesco has delayed its migration to its core banking system as a result of problems experienced in June when the bank was moving savings and loan products in-house from the RBS systems that supported them.

Tesco has delayed its migration to its core banking system as a result of problems experienced in June when the bank was moving savings and loan products in-house from the RBS systems that supported them.

Tesco set up its own core banking system in November 2009, when it selected an off-the-shelf core banking system from Fiserv, as it moved towards being a full-service retail bank. It went live with the system in October last year.

To become a full service bank it then had to migrate services provided via other financial services firms to its own core banking platform. But during the June downtime some customers were unable to access their accounts.

"We have taken the decision to slow down the introduction of new products until we have settled in the new bank team, processes and systems, having encountered some technical issues during the summer, which resulted in some customers being unable to access online accounts for a short period," said Tesco.

Read more on Business applications

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

SearchCIO

SearchSecurity

SearchNetworking

SearchDataCenter

SearchDataManagement

Close