NS&I's IT car crash considers cutting legacy links to stop the bleeding

A British state-owned bank is reconfiguring its modernization project, including considering reducing connections with legacy systems, as it tries to claw back schedule and budget overruns that are far beyond early plans.

The National Savings & Investment (NS&I) transformation program is already £1.3 billion over budget and four years late. In December, chief executive Dax Harkins told MPs the organization was outside HM Treasury spending limits and timetable under a revised plan from systems integrator Capgemini.

In a letter to the Public Accounts Committee (PAC) this week, he confirmed "that plan is currently forecast to complete outside the March 2028 target date and outside the agreed budget" set in the Spending Review last year.

He told Parliament's spending watchdog: "We recognize the challenge this presents and are working on options to improve the cost and time of program delivery, including what would be required to live within our ...