Herbert Smith Freehills has advised TSB Bank plc on a strategic partnership with IBM to support its digital transformation objectives to become a truly digital business.
This builds on TSB’s commitment to consolidate its IT operations and optimise how TSB runs its IT infrastructure.
The strategic deal follows TSB’s announcement, as part of its 2022 strategic plan, to invest £120m to transform digital channels over the next three years. It is a key step in TSB’s strategy to optimise its new state-of-the-art platform which provides multi-cloud and data capabilities for the Bank.
The deal will help TSB to strengthen its IT resilience and leverage higher value technology, including AI, to deliver new innovative services to its customers.
International Business Machines Corporation operates as an integrated technology and services company worldwide.
TSB Bank plc is a retail and commercial bank in the United Kingdom and a subsidiary of Banco Sabadell.
The Herbert Smith Freehills team was led by technology partner and TMT London head, Nick Pantlin (Picture), with support from senior associates Hugh Bannister and Terence Lau. Partners Clive Cunningham and Christine Young provided financial services regulatory and employment advice respectively. The firm worked closely with TSB Head of Commercial Legal, Peter Davis and Senior Legal Counsel David Dew throughout the project.
Involved fees earner: Hugh Bannister – Herbert Smith Freehills; Clive Cunningham – Herbert Smith Freehills; Terence Lau – Herbert Smith Freehills; Nick Pantlin – Herbert Smith Freehills; Christine Young – Herbert Smith Freehills;
Law Firms: Herbert Smith Freehills;
Clients: TSB Bank plc;