TSB Boss Calls In Experts From IBM

The boss of TSB has taken personal charge of the botched handling of an IT upgrade that involved one of the biggest transfers of banking data ever attempted in the UK.

He has called in experts from IBM and has admitted to the BBC that the bank is “on our knees” after six days of computer chaos, but he pledged “we will get up and come back fighting”.

Problems began at the weekend as TSB had been until been renting a banking platform from its former owner (Lloyds Banking Group) whilstits Spanish-owner Sabadell developed its own ‘state-of-the-art’ platform.

Ongoing issues

At the weekend, TSB moved its customers’ data from the Lloyds’ platform to its own. But the move has caused no end of problems.

Many customers who did get access to their online accounts, were presented with details of other people’s accounts too.

Other customers have been unable to log on, others have reported problems with passwords, and some have said that other people’s funds have been transferred into their own bank accounts.

The problems are said to affect both mobile and internet banking customers.

After days of chaos, on Wednesday TSB said that its online banking systems were switched back on. But some customers are complaining that the system is now so slow it was nearly unusable. Others say it is still not working for them.

“We’re limiting access to Internet Banking,” TSB said. “We’ve restricted the number of customers who can log in at once to ensure a good service once you’re in. So please bear with us and keep trying.”

On our knees

Meanwhile TSB chief executive Paul Pester told the BBC the bank is “on our knees”, but pledged “we will get up and come back fighting”.

Pester reportedly said he would take direct control of the issue, and had drafted in experts from IBM, who would report “directly” to him.

He also promised no customer would pay overdraft fees or charges for April.

Asked by the BBC if he would give up his bonus for this year, Pester said: “The last thing I’m worried about is bonuses and pay.”

When asked if he would resign over the issues, he responded: “I haven’t even had time to think about it”.

Despite Pester’s reassurances, scores of complains can still be found in Twitter from irate customers

How much do you know about privacy? Try our quiz!

Tom Jowitt

Tom Jowitt is a leading British tech freelancer and long standing contributor to Silicon UK. He is also a bit of a Lord of the Rings nut...

Recent Posts

Microsoft Executive Indicates Departmental Hiring Slowdown

Amid concern at the state of the global economy, a senior Microsoft executive tells staff…

11 hours ago

Shareholders Sue Twitter, Elon Musk For Stock ‘Manipulation’

Disgruntled shareholders are now suing both Twitter and Elon Musk, over volatile share price swings…

12 hours ago

Google Faces Second UK Probe Over Ad Practices

UK's competition watchdog launches second investigation of Google's ad tech practices, and whether it may…

14 hours ago

Elon Musk Raises His Contribution To Twitter Acquisition

But one of Elon Musk's biggest backers on the Twitter board has tendered his resignation…

1 day ago

Broadcom Confirms VMware Acquisition For $61 Billion

Entry into cloud infrastructure software for US chip firm Broadcom after it confirms reports it…

1 day ago