Barclays Faces £12.5m Compensation Bill for IT Outages

Technical failures across UK banks disrupted services for customers, with Barclays leading in incidents and payouts.

Barclays is expected to pay up to £12.5 million in compensation for IT outages over the past two years, the highest among UK banks.
A January 2025 outage caused significant disruptions, with over half of online payment attempts failing during the period.
The Treasury Committee revealed 158 IT failures across nine major UK banks since January 2023, totaling over 33 days of downtime.
Barclays reported 33 outages, the most among the banks, while NatWest experienced the longest downtime at 194 hours.
Common causes of outages include software malfunctions, third-party supplier issues, and system changes, with calls for improved operational resilience.