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Pay day banking outages hit 1.2m people, banks reveal
In a letters to MPs, four major banks have set out the extent of the disruption caused in February's outage.
The details have emerged in letters from Lloyds, TSB, Nationwide and HSBC to Dame Meg Hillier, the chair of the Commons Treasury Committee, which is looking into the incident that occurred on Friday, 28 February. In March, it emerged that nine major banks and building societies operating in the UK accumulated at least 803 hours - the equivalent of 33 days - of tech outages in the past two years. Experts including Patrick Burgess of BCS, the Chartered Institute for IT, and Shilpa Doreswamy, a director with GFT, a company committed to the digital transformation of the financial sector, have stated that the recent outages reveal the problems banks have with ageing infrastructure and failing IT systems.
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