TSB internet banking operating at 50% capacity, says boss

TSB internet banking operating at 50% capacity, says boss

Andrew Cummings
April 26, 2018

Many Borders customers of the TSB were still unable to access their accounts online yesterday (Wednesday) despite its chief executive Paul Pester claiming systems were "up and running" as the bank's IT problems continued.

The bank has admitted that its internet bank is operating at only 50% capacity, although its mobile app is at 90% capacity.

Mr Pester said: "Our teams continue to work around the clock to fix the problems that some of our customers are having in accessing their TSB accounts".

Chair of the Treasure Committee Nicky Morgan MP has had her say on the ongoing crisis by writing to Paul Pester with the aim of finding the cause and extent of the issue as well as how the bank plans to reimburse those adversely affected.

Mr Pester said: "This isn't the level of service that we pride ourselves on providing, and isn't what our customers have come to expect from TSB, and for that I'm deeply sorry".

Mr Pester said he was "deeply sorry" and assured that customers would not be left short changed as a effect of the fiasco.

But a number of customers reported problems long after the scheduled restart time, with many anxious about being able to pay bills or even get cash to pay for essentials. One of the steps we need to take to resolve this is to take our mobile app and online banking down for a few hours. We'd love to hear from you because there are lots of mixed messages. "I'm stuck in the office when I should be out working".

TSB had meant to complete a major IT system upgrade on Sunday evening, although problems persisted into a third day.

Following the changeover, customers were left unable to view their balances, and some were given access to other people's accounts.

Data and banking watchdogs confirmed they were looking into the situation while MPs have demanded answers from the bank about the IT meltdown.

Shujun Li, a cybersecurity research at the University of Kent, said the main issue was not the initial failure - modern IT systems are too complicated and dynamic to be totally bug-free, he said - but because of the bank's poor risk management.

"Warm words and platitudes will not suffice".

"From what has happened, it is clear to me that something seriously went wrong with TSB's procedures" on internal system testing, customer communications, information security management and data protection.

Customers complained of problems with mobile and online accounts several hours after the system upgrade was supposed to have been completed.

Banking regulator the Financial Conduct Authority said: "We are aware of the issue and are liaising with the firm".

Other reports by iNewsToday