TSB systems could be on the move again as BBVA eyes its parent

Could TSB systems be on the move again?

BBVA, the Spanish parent company of TSB, is reportedly considering selling its UK subsidiary. This could mean that TSB's systems could be on the move again, just a few years after they were migrated to a new platform.

BBVA is reportedly considering selling TSB

Sky News reported on June 23, 2023, that BBVA is considering selling TSB. The report said that BBVA has hired investment bank Rothschild to advise on a potential sale.

BBVA has not commented on the report, but it is not the first time that the Spanish bank has been linked with a sale of TSB.

In 2018, BBVA was reportedly in talks with several potential buyers for TSB, including HSBC and Banco Sabadell. However, those talks ultimately fell through.

TSB's systems could be on the move again

If BBVA does sell TSB, it is likely that the bank's systems will need to be migrated to a new platform. This could be a complex and time-consuming process, as TSB's systems are currently integrated with BBVA's.

TSB has already migrated its systems once in recent years. In 2018, the bank moved its systems from Lloyds Banking Group's platform to a new platform provided by India-based IT company Infosys.

The migration was not without its problems. TSB customers experienced widespread disruption to their banking services for several weeks after the migration.

TSB customers could be affected by a sale

If TSB is sold, it is possible that customers could be affected. The new owner may decide to change TSB's systems or products, or it may decide to close some or all of TSB's branches.

TSB customers should be aware of the potential risks involved in a sale of the bank. They should also be prepared for the possibility that their banking services could be disrupted if the bank is sold.