London, England /
That Bank of England TSB BankSpanish subsidiary Sabadellwas fined this Tuesday in the UK 48.7 million pounds (59.1 million dollars) for a serious computer failure that occurred in 2018 which affected multiple clients.
“HeThe error in that case was widespread and serious, and it has a real impact on the everyday lives of the majority of TSB’s clients,” Mark Steward, head of FCA, said in a statement.
TSB upgraded its computer system on April 2018 and moved its customer data to a new platform, which experienced technical glitches and disrupted branch, telephone and online services. As a result, many customers cannot access their banking services.
All bank branches and one a significant part of its 5.2 million customers were affected, some for months. As of December 2018, banks have not returned to normal operations.
this tuesday, The bank’s CEO, Robin Bulloch, again apologized to the customer in a statement.
TSB paid 32.7 million pounds (39.7 million dollars) to its affected customers in compensation.
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