The day after it was fined £56 million over an IT meltdown, Royal Bank of Scotland has suffered a minor glitch which has seen some customers unable to use their credit and debit cards.
The Royal Bank of Scotland and its subsidiary Ulster Bank have been hit with a £56 million fine by regulatory authorities over a computer malfunction in 2012 that locked customers out of accounts and knocked out payments processing systems.
A team from RBS took top honors at the Deloitte Digital #GoneHacking capital markets hackathon on Friday with a trading platform that utilises the Ripple protocol to handle integration with crypto-currencies.
The U.S. Commodity Futures Trading Commission (CFTC) issued five Orders filing and settling charges against Citibank N.A. (Citibank), HSBC Bank plc (HSBC), JPMorgan Chase Bank N.A. (JPMorgan), The Royal Bank of Scotland plc (RBS) and UBS AG (UBS) (collectively, the Banks) for attempted manipulation of, and for aiding and abetting other banks' attempts to manipulate, global foreign exchange (FX) benchmark rates to benefit the positions of certain traders.
The Central Bank of Ireland has slapped a EUR3.5 million fine on Ulster Bank over IT governance failures that resulted in approximately 600,000 customers being deprived of banking services during a month-long period in 2012.
The decimation of the UK's branch banking network continues apace as Royal Bank of Scotland earmarks a further 154 branches for closure this year.
The Royal Bank of Scotland is set to begin piloting an online peer-to-peer lending platform for SMEs by the end of the year, according to the Financial Times.
The International Swaps and Derivatives Association, Inc. (ISDA) today announced that 18 major global banks (G-18) have agreed to sign a new ISDA Resolution Stay Protocol, which has been developed in coordination with the Financial Stability Board to support cross-border resolution and reduce systemic risk.
Non-cash payments volumes are expected to increase by nearly 10% percent to reach 366 billion transactions in 2013, fueled by strong growth in developing markets and mobile payments, according to the 10th annual World Payments Report from Capgemini and Royal Bank of Scotland (RBS).
NatWest and RBS are to open a network of eight new business accelerator hubs offering free workspace, hands on mentoring, a start up 'bootcamp' and a free programme of up to 18-months of advice, support and funding clinics for budding entrepreneurs.
© Finextra Research 2014