On Friday, multiple banks including Nationwide, First Direct, Lloyds, and Halifax experienced significant app and online banking disruptions, impacting customers during a crucial payday. This marks the second month of similar IT failures coinciding with payroll activity. Reports indicated difficulties in logging in and processing payments. Experts cautioned that the pressure of payday on banking systems exposes vulnerabilities. Calls for immediate system upgrades or investigations into cybersecurity threats were made as continued issues suggest deeper problems within banking technology management.
Nationwide, Lloyds, and Halifax faced significant app and online banking disruptions, impacting many customers during salary payment periods for the second consecutive month.
Industry experts warn that persistent IT failures at major banks during payday suggest underlying vulnerabilities, urging rapid upgrades to systems or addressing cybersecurity concerns.
Chris Skinner highlights that the rapid pace of technological change is challenging for both regulators and banks, contributing to frequent outages during peak periods.
Keith Budden describes ongoing banking failures as 'payments potholes,' emphasizing the necessity for urgent solutions to prevent further customer inconvenience.
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