TSB: A Technical Nightmare | Cash Management Crisis | Credit Risk | Accounts Payable

Dear {{lead.First Name:default=Subscriber}},

Last month UK high-street bank TSB endured a technical nightmare after a systems breakdown left thousands of customers unable to access their accounts for more than a week.

The blunder led to Paul Pester, TSB’s CEO, being brought before the UK Parliament to provide an explanation for why this IT crisis occurred.

It was discovered was that TSB was attempting a transfer of 1.3 billion customer records – a gargantuan project by any standards and although the transfer was planned well in advance, it came with significant risks.

A month later, it remains to be answered what the bank could have done differently to avoid the chaos that unfolded and what can other lenders learn from the episode.

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