{"id":2925,"date":"2018-09-10T14:47:07","date_gmt":"2018-09-10T13:47:07","guid":{"rendered":"https:\/\/www.imsm.com\/us\/?p=2925"},"modified":"2021-03-29T16:33:31","modified_gmt":"2021-03-29T15:33:31","slug":"it-meltdown-affects-customers","status":"publish","type":"post","link":"https:\/\/www.imsm.com\/us\/news\/it-meltdown-affects-customers\/","title":{"rendered":"IT meltdown causes issues for customers"},"content":{"rendered":"

TSB customers have been locked out of their accounts after TSB migrated their customer data to a new IT system.<\/strong> Despite TSB being told their new platform was ready for the transfer, the system had not been tested sufficiently<\/strong>, according to IBM, who were called in to help with the crisis.<\/span><\/p>\n

This led to many customers being locked out of their accounts, with others being given access to customers\u2019 confidential records. <\/span><\/p>\n

The IT meltdown cost TSB \u00a3176.4 million and around 26 000 customer accounts<\/strong>, with unhappy customers having migrated to other banks. Which? money expert, Gareth Shaw, said: \u201cCustomers can incur fines, penalties and fees when they\u2019re not able to access their finances, so the bank must offer compensation to all those affected.\u201d <\/span><\/p>\n

Though the company has, in fact, offered compensation of up to \u00a3100 to some of those affected, many customers feel as though the bank should be doing more to help them recover from the crisis. <\/span><\/p>\n

As a result of the ongoing IT fiasco still affecting customers today, Paul Pester has resigned after working as TSB\u2019s Chief Executive for 7 years. Richard Meddings \u2013 the bank\u2019s chairman \u2013 has since taken over the role, claiming that \u201cwhilst there is still work to do to achieve full stability for customers, TSB\u2019s systems and services are much improved since the bank\u2019s IT migration earlier this year.\u201d <\/span><\/p>\n

By implementing ISO 27001, you can help ensure that both you and your customers’ data remains secure. The standard provides thorough guidance on complying to regulatory and contractual requirements regarding data security, privacy, and IT governance. For more information click here<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

TSB customers have been locked out of their accounts after TSB migrated their customer data to a new IT system. 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