Lloyds Banking Group New IT Platform

Lloyds banking group has announced it is switching computer systems to a new platform and plans to move the first tranche of 500,000 customers this year. Such a radical move brings with it huge risk, TSB’s system move failed last year costing £200m and 16,000 customers so far.

CAST, the MRI scanner for code, works with companies including Credit Suisse and Boston Consulting Group. Ahead of mergers, acquisitions and the subsequent changes of platforms, CAST allows vulnerabilities to be identified and addressed.

Lev Lesokhin, SVP of Strategy and Analytics at CAST, commented on Lloyds’ announced change, saying:

“Lloyds Banking Group are to be congratulated for taking action to modernise. However, a move of this size, migrating the data of half a million people, carries considerable risk. To avoid the problems experienced by others, LBG should undertake a comprehensive, MRI-like scan of their current, and future, systems as a matter of priority. Software Intelligence illuminates structural characteristics of software to help decision-makers understand the hidden complexities of otherwise-impenetrable legacy IT as well as ensure the readiness of systems to be modernized and/or re-platformed, ensuring they run well in any environment.”