Tesco Bank’s business timeline, key dates and its IT history
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
- In 2015 it was revealed that the bank had moved a number of internal and external facing applications to Amazon Web Services.
- The bank has 7.8 million customer accounts and 4,000 staff.
- It is active on social media with @TescoBankNews and @tescobankhelp – it is communicating with its customers through its community page
- 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.