RBS climate pledges versus fossil fuel financing: the gap
Royal Bank of Scotland pledged in 2020 to halve the climate impact of its financing by 2030 and reach net zero by 2050. In the same period it continued to...
Banking
Monzo co-founder exit, TSB IT meltdown, Tesco Bank fine, Metro Bank decline, and TSB migration failure.
Monzo quits Halifax arena deal after backlash
In June 2019, UK challenger Monzo announced a 10-year naming rights agreement to rebrand Halifax, Nova Scotia's Scotiabank Centre as the 'Monzo Centre.' The deal collapsed within days. Monzo retreated...
TSB's 2018 IT meltdown locked millions out
Five years of planning collapsed in a single weekend. When TSB flicked the switch to move customer accounts from Lloyds Banking Group to its new Proteo4UK system on 21-22 April...
TSB Bank IT migration failure: what happened and the cost
Over the weekend of 21-22 April 2018, TSB Bank tried to move its data from the legacy Lloyds Banking Group systems it had relied on since the 2013 split to...
Metro Bank's Fall to Last Place in UK Bank League Tables
Metro Bank, founded in 2010 as the first new high-street bank in the UK in over a century, fell to the bottom of the Competition and Markets Authority's service quality...
Tesco Bank Fined £16.4M for 2016 Cyber Lapses
On 1 October 2018 the Financial Conduct Authority fined Tesco Bank £16.4 million for failures that allowed a cyber attack in November 2016. Over 48 hours, attackers stole £2.26 million...
TSB CEO Paul Pester's 2018 IT meltdown
Paul Pester resigned as CEO of TSB on 4 September 2018, five months after an IT migration locked up to 1.9 million account holders out of their finances for weeks....
How Hong Kong Banks Navigated the 2019 Democracy Protests
Hong Kong's anti-extradition bill protests erupted in June 2019 and stretched into 2020. By the time Beijing imposed the National Security Law on June 30, 2020, the city's largest banks...
Cashplus Bank IT outages trigger FCA probe
Cashplus Bank suffered a series of IT outages between 2022 and 2024 that locked small business and personal account holders out of their money for days at a time. Users...
Jason Bates, Monzo Co-Founder, Left the Digital Bank
Jason Bates, one of the original co-founders of the UK digital bank Monzo, left his operational role. The parting was amicable. He did not exit for a competitor or to...
