Barclays to pay out up to £7.5mn to customers after 3-day IT outage

The Editor’s Digest for free, curated by Roula Khalaf of the FT, highlights Barclays’ expected compensation of up to £7.5mn for a recent outage affecting over half of its payments. Findings from a Treasury committee reveal that the top UK banks experienced 158 IT failures in the past two years, with Barclays leading in outages. Customers faced turmoil during the three-day incident in January, prompting Barclay’s CEO Vim Maru to apologize and prioritize customer interests in communication and resolution efforts.

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