Customers of UK-based challenger bank TSB are locked out of their accounts yet again.
The latest in a long line of TSB chaos, customers can not access their online or mobile banking accounts.
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TSB chaos
Following an upgrade on the 1 and 2 September, customers have been left unable to log-in to either digital platform.
TSB has suffered months of outages after it attempted to upgrade its back-end technology. It was planning to move from the old Lloyds system to the one of its new owner, the Spain-based Sabadell.
Three executives are leaving the bank following the upgrade. However, it was said that their departures were planned before the outages.
April 2018 saw the first outage and data breach. Customers were able to see others’ bank details. One customer reported that he could view other customer’s accounts, totalling more than £20,000 ($28,000). One customer even had £13,000 wrongly credited to his account.
This was followed by another outage in July.
Overall, this led to a loss for TSB in its latest results. Problems with its IT infrastructure directly led to a deficit of £176.4m.
The TSB problems with IT led to a number of costs. These were mainly post-migration costs, such as customer compensation, additional resources, foregoing overdraft charges, and more.
