Barclays faces probe from Treasury Select Committee into six-hour outage September 20, 2018 Barclays faces an investigation from the Treasury Select Committee after it yesterday became the latest lender to experience a major systems failure. Millions of customers were unable to access online banking, telephone banking, as well as branch services for as long as six hours. The Treasury Select Committee is likely to ask the bank similar [...]
MPs tell government to intervene if banks don’t do enough to halt branch closures May 13, 2019 The government or the financial watchdog should be ready to intervene if banks do not do enough to halt the closure of local branches, MPs have suggested. In its report into financial inclusion, the influential Treasury Select Committee (TSC) said the closure of local branches were more likely to affect older and more vulnerable customers and [...]
Eleven banks chosen to join £350m RBS scheme to boost business banking competition December 19, 2018 Eleven banks have been chosen to join a £350m scheme to encourage small businesses to move away from RBS in a bid to boost competition. Challenger banks including Monzo, Metro and Starling as well as Santander, Co-operative, CYBG and TSB were selected by the Banking Competition Remedies body (BCR) and funding amounts will be revealed [...]
TSB boss adds voice to concerns over Santander inclusion on RBS competition fund November 30, 2017 The boss of high street bank TSB today criticised the possible inclusion of banking giant Santander in a scheme to boost competition in the small business lending market. Paul Pester publicly added his voice to concerns surrounding the use of funds which Royal Bank of Scotland (RBS) has been forced to set aside to spur [...]
MPs demand answers from Cashplus after IT failures leaves customers locked out of accounts September 20, 2018 The Treasury Committee has demanded answers from fintech firm Cashplus after outages left customers unable to make payments or withdraw cash. Customers had complained of being locked out of their accounts since the beginning of the week and unable to make or receive payments. Nicky Morgan, chair of the Treasury Committee, has now written to [...]
MPs demand answers from Cashplus after IT failures leaves customers locked out of accounts September 20, 2018 The Treasury Committee has demanded answers from fintech firm Cashplus after outages left customers unable to make payments or withdraw cash. Customers had complained of being locked out of their accounts since the beginning of the week and unable to make or receive payments. Nicky Morgan, chair of the Treasury Committee, has now written to [...]
Barclays’ online and telephone banking services go down September 20, 2018 Barclays today became the latest major lender to experience a systems failure, with millions of customers unable to access online banking, telephone banking, as well as some branch services at the time of writing. Problems began this morning, the bank said, although it remained unclear when they first started. The affected services were unavailable for [...]
Barclays’ online and telephone banking services go down September 20, 2018 Barclays today became the latest major lender to experience a systems failure, with millions of customers unable to access online banking, telephone banking, as well as some branch services at the time of writing. Problems began this morning, the bank said, although it remained unclear when they first started. The affected services were unavailable for [...]
Nationwide vows to keep branches open as it spends £1.3bn on digital growth September 15, 2018 Nationwide has vowed not to be the second bank to fall victim to an IT disaster this year as it unveiled a £1.3bn technology upgrade today. Chief executive Joe Garner said there would not be one “big bang” change as it moves to a new digital platform, adding that the investment won’t come at the [...]
Nationwide vows to keep branches open as it spends £1.3bn on digital growth September 15, 2018 Nationwide has vowed not to be the second bank to fall victim to an IT disaster this year as it unveiled a £1.3bn technology upgrade today. Chief executive Joe Garner said there would not be one “big bang” change as it moves to a new digital platform, adding that the investment won’t come at the [...]