Reboot’s on the other foot

Banking IT systems can be infernal to put together, maintain – witness the regular outages and customer anger – and unbundle. But it is amazing that TSB, five years after being spun off by Lloyds Banking Group, is still paying massive sums to use its former parent’s IT infrastructure. While the new technology platform TSB is building is taking shape, sizeable payments to Lloyds will go on in 2018 as well. Manana, as TSB’S now Spanish parent Sabadell might say.