TSB IT meltdown blamed on data centre test failure November 18, 2019 The IT meltdown that left nearly 2m TSB customers without access to online banking is set to be partly blamed on the company’s failure to test one of its new data centres. A long-awaited inquiry by City law firm Slaughter and May has concluded that the decision to test only one of the new data [...]
If not quite still king, cash still matters to millions March 28, 2023 Lord Holmes explains that, while the future of money is clearly digital, its delivery must also be inclusive.
TSB says hours-long payments glitch is now resolved November 22, 2019 TSB has said a fresh technical issue over delays of payments into accounts has been resolved following hours of uncertainty. The embattled bank has apologised to customers after a processing error sparked anger and confusion among its customers this morning, Customers will not be left out-of-pocket, the bank has said, after some payments into TSB [...]
TSB branch closures: Where all 82 bank branches will close November 28, 2019 TSB has announced the full list of the 82 branches it is set to close in 2020 as part of a cost-cutting plan that will also slash 370 jobs. The high-street lender is overhauling its business as it licks its wounds from a catastrophic IT meltdown and as banks across the world feel the pressure [...]
Is the future of banking online only? NatWest and Lloyds to axe 81 branches, taking this year’s total to 213. Here’s a list of closures: March 31, 2023 Two of the UK’s biggest banking groups have announced plans to make big cuts to their branch networks this year, cutting more than 80 sites from around the country. Lloyds Group and NatWest Group have said that the sites in England, Scotland, Wales and the Isle of Man will close between July and November this [...]
TSB Bank facing heavy criticism after investigation into IT meltdown November 9, 2019 TSB Bank is set to be criticised for failing to prepare for a systems migration in a report on the malfunction that left 2m customers unable to access their current accounts. City law firm Slaughter and May has submitted its final report on the incident to the bank and regulators, according to Sky News, with [...]
Virgin Money store closures latest in long line of banks and lenders shutting branches September 30, 2021 Virgin Money’s latest tranche of branch closures, announced this morning, comes after swathes have been shut across the banking sector in recent months. The move to axe nearly a fifth of Virgin Money’s branch network – 31 stores with 112 jobs at risk – comes as rival HSBC also calls time on the last of [...]
TSB mulls bonus docking after pushing back gender balance targets December 3, 2019 TSB is planning to dock bonuses for its bosses after missing gender balance targets, according to reports. The bank has pushed back its deadline to ensure women hold roughly half of the senior jobs by five years. Read more: Mark Carney appointed UN climate envoy TSB’s remuneration committee is set to decide pay for senior [...]
TSB’s IT boss ‘kept board in dark’ ahead of tech meltdown November 17, 2019 TSB Bank’s head of IT reportedly failed to warn board members about “shortcomings” with the testing of a new technology system days before it suffered a huge meltdown. TSB is facing a lengthy investigation by City law firm Slaughter and May into the botched rollout of a new IT system that caused nearly 2m customers [...]
TSB to slash up to 400 jobs as it shutters stores in cost-cutting plan November 25, 2019 TSB has announced plans to close 82 branches next year and slash up to 400 jobs as part of a strategy overhaul aimed at saving £100m by 2022. Unveiling a new three-year strategic plan, chief executive Debbie Crosbie today said the savings would help deliver a 15 percentage point improvement to the bank’s cost to [...]