TSB customers hit by further mobile banking outages July 14, 2018 Customers of TSB have faced further technical problems today with the bank’s mobile banking application. The bank, which has endured a torrid time since it migrated its customer records to a new IT platform built by its Spanish parent company Sabadell. Problems with the migration led to significant issues for customers trying to access mobile [...]
Ranked: Top 10 retail banks for customer experience November 28, 2019 First Direct has won the crown for delivering the best retail banking customer experience, according to a comprehensive new study released this morning. The telephone and internet-based retail bank has seen off competition from the likes of Barclays, the Co-operative Bank and Royal Bank of Scotland (RBS) to claim the top spot. Read more: Lloyds [...]
TSB forced to delay switch from Visa to Mastercard after bank’s computer collapse August 27, 2018 High street lender TSB has been forced to delay a switch to Mastercard for its card payments as it focuses on getting its computer systems back to health following the IT collapse it suffered earlier this year. TSB had planned to leave Visa Europe for its card operations by the end of this year, but [...]
UK firms cut more than 106,000 jobs amid coronavirus pandemic August 19, 2020 The coronavirus pandemic has battered the UK economy since it arrived in early 2020 – and no sector has remained unscathed, with more than 100,000 job cuts planned during the pandemic. The government’s furlough scheme has allowed millions of people to keep getting a paycheck, but fears are growing that when this is phased out [...]
Walgreens Boots Alliance shares rise on reports of KKR buyout interest November 11, 2019 Shares in Walgreens Boots Alliance jumped in early trading today amid reports that KKR has approached the drugstore giant about taking it private. Read more: KKR to target record $15bn in Asia-focused buyout fund Private equity firm KKR is preparing a proposal to buy out shareholders of Walgreens Boots in what could be the biggest [...]
HSBC and Santander must repay over £8m in overdraft fees November 29, 2019 HSBC and Santander must refund customers to the tune of millions of pounds after failing to text customers who fell into unarranged overdrafts. HSBC twice broke a legal requirement to text customers before charging them for falling into an overdraft and is refunding £8m to 115,754 customers. Read more: TSB branch closures: Which will close [...]
Neil Woodford one year on: How the star stock picker fell from grace May 28, 2020 Former star stock picker Woodford suffered a very public fall from grace last year after his flagship Equity Income fund was suspended following a spike in investor redemptions. One year on, we look at what caused Woodford’s demise, where he is now and what it means for the investment industry going forward. Who is Neil [...]
FCA looks to clean up its act amid ‘shameful’ office mess November 12, 2019 The City watchdog found itself in the spotlight today amid tales of overflowing bins, booze and messy toilets at its HQ. A letter from the FCA’s operating chief, seen by the Evening Standard, detailed the “shameful” situation which included “defecating on the floor in toilet cubicles” and “leaving alcohol bottles in sanitary bins”. Read more: [...]
Revolut hopes to win round cynics with heavyweight hires November 12, 2019 Fast-growing fintech firm Revolut will confirm today the worst kept secret in the City; Martin Gilbert, the asset management titan, is to become its new non-executive chairman. The move – unsurprising though it may be – is a stark reminder of the startup company’s ambitions to become a global bank. In the last six months [...]
City Moves – Who’s switching jobs at British Business Bank, OSTC and Fladgate? November 7, 2019 Today’s City Moves includes British Business Bank, OSTC and Fladgate British Business Bank The British Business Bank, the UK government’s economic development bank, has announced the appointment of Neeta Atkar as senior independent director to its board, effective from 16 November. Neeta steps into the role having served as a non-executive director since 2016 and [...]