Mon. Sep 21st, 2020

TSB lacked common sense in run-up to IT meltdown, says report

Computer systems failure resulted in nearly 1.9 million people being locked out of accounts

The board of TSB lacked “common sense” and shifted customers to a new IT platform before it had been fully tested, an independent report into the bank’s 2018 meltdown has found.

The report, commissioned by the bank and carried out by law firm Slaughter and May, said the board failed to ask its contractor key questions ahead of the launch, which resulted in nearly 1.9 million customers being locked out of their accounts.

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