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November 19, 2009

Tesco Bank Opts For Fiserv’s Signature Bank Platform

To extend its financial services business, from a collection of financial products to retail bank offering

By CBR Staff Writer

Tesco Bank, the personal finance unit of the UK-based retailer, Tesco, has deployed Fiserv’s Signature bank platform to provide its core banking solution. Tesco Bank is developing new products and services and needs to build the systems and infrastructure platforms to help provide these services.

Tesco Bank is in the process of migrating its banking products onto a number of its new platforms. The bank plans to extend its financial services business, from a collection of financial products to that of a full service retail bank offering more choice, innovation and value to customers.

The implementation of Fiserv solutions at the bank will provide the foundation of account information and banking transactions for its customers. Consumers will have the convenience of accessing Tesco Bank from UK call centres, stores, online or ATMs.

John Bower, managing director of Bank Solutions, Europe at Fiserv, said: “Tesco has a history of bringing innovation to the markets it serves. Fiserv will focus its expertise to help Tesco transform several business processes, creating a best-in-class customer experience in financial services.”

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