The UK's Tesco Bank—the financial services venture started by that country's largest supermarket chain—selected Fiserv (Brookfield, Wis.) and its Signature bank platform to provide its core banking solution. As reported previously by BS&T , Tesco Bank is developing new products and services and needs to build the systems and infrastructure platforms to help provide these services.
Tesco Bank has over six million customers and 28 financial products and services. It is in the process of migrating its banking products onto a number of new Tesco Bank platforms. Tesco Bank plans to extend its financial services business from a collection of financial products to that of a full service retail bank, said a release.
The Signature platform from Fiserv will form the foundation for Tesco Bank's account information and transactions for its customers. Consumers will also be able to access banking services from call centers, stores, online or via ATM.