Banco de Sabadell : Sabadell successfully completes TSB technology migration

• Chairman Josep Oliu highlights that 'migration is an excellent starting point for the organic growth of the business and the improvement of TSB's efficiency'.
• According to Josep Oliu, the new Proteo4UK platform will provide a 'greater competitive capacity and increased value creation for our franchise'.

Banco Sabadell has successfully completed the TSB technology migration. The implementation of the new Proteo4UK platform represents a new milestone in the history of Banco Sabadell Group, and particularly in its progress in terms of the bank's internationalisation. It is also the first ever project outside of Spain in which the bank has created a new banking platform from scratch and completed a large scale migration of the platform.

The Chairman, Josep Oliu, has emphasised that 'with this migration, Sabadell has proven its technological management capacity, not only in national migrations, but also on an international scale. The new Proteo4UK platform is an excellent starting point for the organic growth of the business and the improvement of TSB's efficiency'.

Oliu also stated that 'more than 5.4 million customers are now integrated into the new platform, which allows us to grow in a market as mature and highly competitive as the UK market.' Equally, the Chairman has also stated that the migration will provide a 'greater competitive capacity and increased value creation for our franchise'.

For TSB, the Proteo4UK migration project is the best strategic decision it could have made when compared to the technological alternatives considered at the time, as the platform fulfils its business requirements and supports its strategy. Total synergies arising from the migration are estimated to amount to £160M on an annual basis.

The new Proteo4UK platform offers increased operational simplicity, which, for example, enables significant time savings in the implementation of the principal business and operational processes. The new platform also generates new opportunities, such as the launch of the SME business and enhanced user experience thanks to the digitalisation and homogenous omni-channel deployment of products and services.

New challenges

The teams that have participated in migration have proven to have the skills and knowledge required, which they have significantly developed and honed during the course of this project. Banco Sabadell's proposal to be an agent of change has become evident, with an advanced technological proposition, not only in the domestic market but also on an international scale. With this project Banco Sabadell has created a competitive and value-added platform for the TSB franchise.