UK banks, including RBS, Barclays, and the Treasury Select Committee have been told to enhance their technology and to add better IT expertise to their boards, in order to protect consumers from the kind of interruptions in service that these banks have experienced recently; this follows an investigation into these recent IT failures. Andrew Tyrie, the head of HSBC, said that “Every few months we have yet another IT failure at a major bank. These IT blunders and weaknesses are exposing millions of people to uncertainty, disruption and sometimes distress. Businesses suffer, too. We can’t carry on like this".
UK banks, including RBS, Barclays, and HSBC have been told to enhance their technology and to add better IT expertise to their boards, in order to protect consumers from the kind of interruptions in service that these banks have experienced recently; this follows an investigation into these recent IT failures. Andrew Tyrie, the head of the Treasury Select Committee, said that “Every few months we have yet another IT failure at a major bank. These IT blunders and weaknesses are exposing millions of people to uncertainty, disruption and sometimes distress. Businesses suffer, too. We can’t carry on like this".