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RBS and Many Other Banks Might Not have a Secure IT System

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Published on : Jun 19, 2015

An interview presented on the Radio 5’s Wake up to Money, the BBA’s chief executive, Mr. Anthony Browne stated that the move towards mobile banking and the transformations in the method they interact with their bank was putting pressure on the existing struggling systems. RBS in its latest IT failure has been described as not acceptable by the main person of the British Banker’s Association, that are saying this bank’s IT systems were not functional enough under the pressure from consumer demand.

During Wednesday, it was witnessed that around 600 thousand payments to consumers of NatWest, RBS, and other banks were in the same group and have not yet been processed. These payments were present in wages, disability living allowance, and the tax credits, that failed to turn up the customers’ accounts as projected. According to Mr. Browne, these banks are spending around £3 billion each year to upgrade their information technology systems. These banks are still informing the affected consumers that their payments will be by Saturday processed and have mentioned that no one will be out of money as a result. Nevertheless, the consumers have angrily acted to these delays and have reported back the long wait they have to endure to get to the bank’s helpline.

In a statement on Thursday, the bank RBS stated that they have fixed the underlying cause that had resulted in a delay to the payments along with the direct debits which were applied to some of the consumers’ accounts. The bank further stated that they were sorry for the inconvenience that was caused to their customers and are now working to smoothen out and get these payments quickly updated for their consumers and the stipulated time for this was Saturday.

However, it has still not been announced if any of the payments have yet been processed or if will be made via a single batch prior to the weekend.