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November 7, 2016updated 10 Nov 2016 3:16pm

Tesco Bank Hack: 20 key facts about Tesco Bank and its IT systems

Tesco Bank's business timeline, key dates and its IT history

By Sam

READ the Details on the TESCO BANK

20 Facts about Tesco Bank

  • Tesco Personal Finances launched in 1997 as a 50:50 joint venture with Royal Bank of Scotland.
  • It started in Credit Cards and then moved into Savings Accounts, Loans and Home Insurance
  • Tesco Plc took sole ownership of Tesco Bank in December 2008 when it bought out the 50% owned by RBS.
  • In June 2009 it changed its name from Tesco Personal Finances to Tesco Bank
  • Tesco Bank signed a deal with Cable and Wireless for managed data centres and hosted telephony in 2010.
  • Tesco is headquartered in Edinburgh
  • It has a call centre in Glasgow which opened in 2009
  • In 2010 it opened a Service Centre in Newcastle
  • In 2010 its General Insurance body completed the migration from RBS systems

General Insurance completes migration from RBS systems to our own

  • In 2012 it opened a second Edinburgh HQ
  • In January 2012 the bank completed the a major IT migration

Migration is Completed

We completed the migration of all banking products and now serves all 6 million customers on our own systems.

  • In 2013 it recruited 300 staff for its current account product
  • The Tesco Current Account launched in June 2014
  • In June 2014 it also launched a mobile banking app

Our new Mobile Banking App launches for credit card, loans, savings and current account customers for both android and IOS phone

  • tesco-bank-snippet
  • The bank say’s that 86% of its products are bought online.
  • The bank has £8.1bn in saving deposits.
  • A spokesperson for the company said it does employ Chief Information Officer. The company advertised for a Chief Digital Officer in June this year.

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