Property News · July 5, 2018

Bank outages should be limited to two days, say regulators


Guidance comes after IT glitches at TSB and Visa caused chaos for millions of customersCity regulators have told banks and financial firms they may have to set an acceptable “maximum outage time” after an IT meltdown, after the TSB failure that led to some customers losing access to accounts for more than a month.In a joint initiative by the Bank of England and the Financial Conduct Authority, firms have been given a 5 October deadline for reporting on their exposure to risks and how they will respond to outages. Continue reading…

Source : theguardian.com
Read more…Bank outages should be limited to two days, say regulators

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