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TSB misses own deadline to fix online banking as outages continue into eleventh day

TSB has missed its own deadline to fix its IT system meltdown, as outages have continued into an 11th day.
The bank's chief executive Paul Pester drafted in tech giant IBM last week to try to "get to the bottom" of the problem, giving it a deadline of Saturday to find a solution.
TSB's Spanish owner, Sabadell, had indicated that the problems would be fixed by the start of this week.
But this morning customers were still complaining of being unable to access their money and pay bills. TSB's online banking service is still operating at 50pc capacity, meaning around a million customers cannot get access.
TSB is facing mounting criticism for taking a high-risk "big bang" approach to its system switch, moving 1.3 billion customer records for 5.5 million customers in one weekend.
The problems stem from a complex system switch TSB attempted from April 20, as it looked to move from the platform rented from its old owner Lloyds to a new one provided by Sabadell.
But the migration ran into immediate problems, with some customers temporarily able to see other people's money, followed by a succession of outages.
TSB misses own deadline to fix online banking as outages continue into eleventh day

Paul Pester, TSB boss
Some customers have told the Telegraph about problems using debit cards, mysterious overdrafts appearing and mortgages disappearing online.
A City source told the Telegraph that industry best practice was to do "multiple migration events", splitting up service lines such as cards and loans and moving batches of customers.
“The more you split things up, the easier it becomes to reduce the risk," they said.
Scrutiny has also turned to City watchdogs the Financial Conduct Authority and Prudential Regulation Authority, who Mr Pester has said were involved in planning "from day one".
TSB's meltdown | Customer stories
An FCA spokesman said: “It is not our role to give our approval for this type of project”. It said it would make an assessment “focusing on the impact on customers”. Its sanctions include unlimited fines. The PRA declined to comment.
Mr Pester has said he is "deeply sorry" for the problems faced by customers and assured them that they will be compensated in full for any losses incurred.
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