Nicky Morgan calls for answers over service failures at NatWest and Barclays
21 September 2018
Treasury Committee chair Nicky Morgan calls for Natwest and Barclays to respond amid service failures affecting customers over the past 24 hours.
Read: Correspondence to Chief Executive Officer of Barclays Jes Staley from Committee Chair Nicky Morgan.
Read: Correspondence to Chief Executive Officer of RBS Ross McEwan from Committee Chair Nicky Morgan.
Over the past 24 hours customers of both NatWest and Barclays have been unable to access their online banking services.
Rt Hon. Nicky Morgan MP, Chair of the Treasury Committee, has written to Jes Staley, Chief Executive Officer of Barclays, and Ross McEwan, Chief Executive Officer of RBS Group, to find out what has gone wrong, the extent of the failure, and how both banks intend to compensate customers who suffered losses as a result.
Commenting on the correspondence, Mrs Morgan said:
“This is yet another addition to the litany of failures of banking IT systems. Potentially millions of customers could be affected by uncertainty and disruption.
It simply isn't good enough to expose customers to IT failures, including delays in paying bills and an inability to access their own money.
High street banks justify the closure of their branch networks on the basis that they are providing a seamless online and mobile phone banking service. These justifications carry little weight if their banking apps and websites cannot be relied upon.
The Bank of England has recently announced it will begin to run IT stress tests on banks. These can't come soon enough.”