TSB boss Paul Pester set to lose millions in bonuses as computer meltdown costs top £100m April 26, 2018 TSB boss Paul Pester faces losing out on millions of pounds in bonus pay as the high street challenger bank counts costs of more than £100m from its botched computer system migration. Thousands of customers have been left without access to their bank accounts online for days since the bank tried to move to a [...]
Ranked: The high street banks with the most IT outages March 4, 2019 UK banks are suffering IT outages or security failures at a rate of more than one a day, new figures from the financial watchdog have revealed. The Financial Conduct Authority (FCA) now requires banks to publish information on IT failures. Read more: Barclays down: Banking app outage hits customers Analysis conducted by Which found there [...]
Metro Bank tops customer service survey as challenger bank grows in popularity February 15, 2019 Metro Bank has topped an industry-wide customer service survey despite battling an accounting error, which has hit shares in recent weeks. The challenger bank knocked First Direct off the top spot in a Competition and Markets Authority (CMA) survey based on whether customers at the UK’s 16 largest current account providers would recommend their bank to friends [...]
Sainsbury’s Bank outage: Customers locked out of online banking June 18, 2019 A Sainsbury’s Bank outage spurred customers to take to Twitter today to complain they could not access their accounts online. Read more: The UK banks with the most IT outages Neither the supermarket’s new app nor online banking service wereworking for customers, with Down Detector reporting dozens of complaints this morning. An outage map showed [...]
TSB is waiving charges for business customers in April after online chaos as owner Sabadell reports profits up by a third April 26, 2018 TSB has announced it will be waiving all overdraft and interest fees for all its retail and small business customers for the month, as it looks to start making amends for troubles customers have faced since a weekend upgrade. Last weekend, TSB moved its 5m customers and their 1.3bn records to a new banking platform, [...]
TSB crisis may have sting in the tail, Andy Hornby’s near-miss with the Sainsbury’s-Asda merger and the FA’s trophy buyer May 4, 2018 The System’s Broken. Try Surrendering Bonuses. TSB customers who found themselves locked out of their accounts for parts of the last fortnight might have devised less polite acronyms for the custodian of their savings. Conspiracy theorists about recent banking history might also trace the origins of the current meltdown to an ill-fated decision in 2010 [...]
TSB brings in team of experts from IBM to help tackle online banking chaos as customers left unable to access accounts April 26, 2018 TSB is bringing in outside assistance to help tackle the banking system troubles that have left customers increasingly frustrated as they cannot access accounts. Chief executive Paul Pester told the BBC’s Today programme he was bringing in help as the problem entered a sixth day, by drafting in experts from IBM. “I’ve drafted in a [...]
TSB brings in team of experts from IBM to help tackle online banking chaos as customers left unable to access accounts April 26, 2018 TSB is bringing in outside assistance to help tackle the banking system troubles that have left customers increasingly frustrated as they cannot access accounts. Chief executive Paul Pester told the BBC’s Today programme he was bringing in help as the problem entered a sixth day, by drafting in experts from IBM. “I’ve drafted in a [...]
Financial investment fraud cases jumped 74 per cent in 2018 April 29, 2019 Reported fraud cases related to financial investments rose 74 per cent to 6,890 last year, up from 3,950 in 2017. The most commonly reported cases were related to share and bond sales which saw an increase to 860 last year, up from 200 in 2017, and pyramid or Ponzi schemes, which saw an increase to [...]
TSB warns of 2018 profit dent from increasing Lloyds outsourcing fees February 2, 2018 Challenger bank TSB today warned that increasing fees to Lloyds for running their computer systems will dent 2018 profits. Statutory profits before tax fell by more than 10 per cent to £162.7m, from the £182m seen last year mainly because of increased outsourcing fees, TSB reported today in a full-year update. The bank, which spun [...]