MSE News: Banks asked how prepared they are for TSB-style meltdown 6 July 2018 at 5:03PM in Budgeting & Bank Accounts 2 replies 1.2K views

Former_MSE_Megan_F

Banks are being asked how well prepared they are for a cyber attack or TSB-style IT meltdown by the Bank of England and the regulators...

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'Banks asked how prepared they are for TSB-style meltdown'

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madvicker

Haha, ironic they are asking for a discussion paper on it now. Yet, not one of those points deals with preparedness for an IT migration. They touch upon system failures, which have happened, but with the exception of TSB (a result of a migration) I don't recall a system failure lasting longer than a day. I think most people can survive a day without banking services.....as inconvenient as that is...

Westie983

Many banks have had upgrades without the issues TSB faced.

I can only assume they tried to push it out without completing the final checks.

Many accounts I hold notify me of any planned upgrades (normally happen in the early hours) and have not really affected me as much as TSB did.

That said still no reply to my complaint, apart from a letter acknowledging they had received it.

Hopefully this will not be repeated or the other banks have learnt from TSB's mistakes and will mitigate them for themselves.

Westie983