IBM customers are experiencing a second week of disruption, after a failed migration of data to an upgraded IT system prevented access to accounts, along with the ability to make payments, affecting up to 1.9 million mobile and online banking customers. The bank has asked TSB to fix the problem by 5 May. The Financial Conduct Authority (FCA) has sent a team to IBM to monitor the situation. The bank faces potential fines and compensation pay-outs. CEO Paul Pester refused to comment about his bonus, and those due to senior staff members once the IT migration is complete.
TSB customers are experiencing a second week of disruption, after a failed migration of data to an upgraded IT system prevented access to accounts, along with the ability to make payments, affecting up to 1.9 million mobile and online banking customers. The bank has asked IBM to fix the problem by 5 May. The Financial Conduct Authority (FCA) has sent a team to TSB to monitor the situation. The bank faces potential fines and compensation pay-outs. CEO Paul Pester refused to comment about his bonus, and those due to senior staff members once the IT migration is complete.