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Bank customers putting up with dozens of IT failures

Digital banking services suffered dozens of shutdowns last year, new figures reveal, as the scale of banks’ IT failures is revealed for the first time.

The BBC reports a picture of frequent and regular outages has emerged after banks agreed to a voluntary code to notify the FCA about the number of operational and security incidents that have occurred.

In the past, this data did not readily show the number of times bank services became unavailable, this month it now does.

Previously, the FCA had intended banks to publish data on how long it takes to replace a lost or stolen card, apply for an overdraft, or whether 24-hour help was available, so easier comparisons could be made for customers who were thinking of switching.

The BBC’s analysis shows that for the nine months to the end of 2018, the majority of major high street banks were hit with at least ten shutdowns.

Barclays reported 41 incidents, the highest among the banks.

A spokesman told the BBC: “We take IT resilience extremely seriously and we welcome transparency for our customers which is why we report every incident to the regulator, even minor glitches that have minimal impact on customers.”

The next highest number of outages was found at Lloyds Bank, with 37 instances recorded. Combined, other brands within the Lloyds Banking Group clocked up 31 outages.

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