UK regulators take a hard line on outages - Business Insider - Business Insider

at US payments company TSYS — left customers of several UK banks, including RBS and Tesco Bank, unable to pay bills or access their account information.

As regulators pay more attention to outages and hold FI's more responsible, the consequences of suffering an outage may become even graver. Outages — especially ones that occur at critical times like Black Friday — are already serious problems for banks. A critical consequence is that they anger customers — who may become more amenable to switching banks — which can damage brands and require resources to fix.

However, now that regulatory bodies are stepping in, things may get more severe, as regulators could decide that failure to abide by the guidelines they have laid down should be punishable by fines and greater governmental scrutiny, adding new punitive dimensions to an already harrowing problem., Business Insider Intelligence's expert product suite tailored for today's decision-makers in the financial services industry, delivered to your inbox 6x a week.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Vodafone UK turns key operations over to digital - Business Insider - Business InsiderVodafone UK has reduced headcount in network operations centers thanks to the introduction of digital tools, like chatbots and automated networks.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Boris Johnson on course to defeat Jeremy Corbyn in UK general election - Business InsiderLabour had been gaining progressively in the polls until last week but recent polls suggest their momentum has stalled in the past week. Ofcourse the business community and corporate media would be on the side of the fascists against the socialists. Since you've already declared the winner, we might as well get rid of elections and democracy? PeoplesMomentum UKLabour jeremycorbyn JC4PM GeneralElection2019 Brenter brexit Brexstall .....
Source: BusinessInsider - 🏆 729. / 51 Read more »