Permanent TSB commits additional €50m to digital

Bank partners with EY, Infosys and Finacle on new infrastructure and services

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Permanent TSB is to invest a further €50 million in its technology infrastructure and digital capability.

The Bank is working on a €100 million programme to upgrade its core platforms, increasing security for customers through the introduction of secure customer authentication; integrating a new API platform to enable open banking; and has made improvements to digital services via the Permanent TSB mobile app and Web portal.

As part of the existing programme, Permanent TSB has partnered with EY Infosys and Finacle, to deliver new services for customers, including current account opening via the Permanent TSB app, which is launching in May.

Commenting on the announcement, Permanent TSB’s chief technology officer Tom Hayes said: “Customer usage of our App and Web services has increased exponentially over the last number of years and we’ve seen over a 30% increase in customer online usage of everyday banking services over the last year alone.

“In response to these changing customer needs, we have delivered a significant upgrade of our core banking platform and many new digital services, including term lending, credit cards and overdrafts in-app; upgrades to our app and desktop services; along with the introduction of video banking and Apple Pay.

We have a strong partnership with EY, Infosys and Finacle, supporting the delivery of our new online current account opening and further boosting the digital experience for our customers.

Ajay Vij, SVP and industry head, financial services, Infosys, said: “Permanent TSB has a history of 200 years of leadership in the banking sector in Ireland. We at Infosys are incredibly proud that the bank’s ambitious digital transformation program is backed by our industry leading Finacle Digital Engagement Suite. As their system integrator we are delighted to support Permanent TSB, delivering in its goal to deliver world-class digital experiences for its customers, and drive sustainable growth and market-share.’’

TechCentral Reporters

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