Blog: TISA’s New Commercial Board – an update
A few weeks ago, we announced the appointment of Larry Banda as CEO of TISA’s new Commercial Board, which will oversee the activities of TISA Commercial Enterprises (TCE) – a newly launched TISA subsidiary which supersedes TISA Digital. TISA’s traditional business model remains unchanged with Carol Knight as CEO of TISA.
The purpose of TCE is to support TISA’s Commercial initiatives. These include major member sponsored digital projects such as Digital ID and Open Savings, Investments and Pensions (OSIP)). TCE, under Larry’s leadership, will also oversee the development of business models to support new digital services, identify and undertake new commercial opportunities and also provide oversight of the existing commercial companies TISA Universal Reporting Network (TURN) and TISAtech.
While TISA’s digital Initiatives are driven by and complement our Policy work, the commercial requirements are very different to TISA’s not-for-profit business model.
The last three years has seen the rapid development of complex digital projects and the creation of industry delivery entities. Over the course of the coming year TCE have the objective to formally launch IDConnect (stemming from our Digital ID project) and any new business entity to support Open Savings, Investments and Pensions.
Our governance structure
Our new structure will ensure enhanced management of our commercial entities and give them proper focus and the best possible chance of success.
The current ‘not-for profit’ status of TISA’s traditional business will be maintained and our core business activities remains the same.
The TISA board encompasses our membership business and the TCE board has responsibility for commercial activities, both boards being chaired by Tony Stenning. The TISA Board will ensure that TISA’s overall strategy and associated development plans and supporting financial plans are co- ordinated across the two business units.
We will endeavour to keep our membership updated with any further developments in our new group structure, but if you have any questions in the meantime or want to get in touch with Larry regarding our Digital Projects, please feel free to email enquiries@tisa.uk.com.