UK regulators to examine banks' IT systems after glitches

Reuters

LONDON, March 28 (Reuters) - Britain's financial regulators will examine whether computer systems used by the country's leading banks are fit for purpose after a string of glitches that angered millions of customers.

The Financial Conduct Authority, the Bank of England and its Prudential Regulation Authority will launch the review to be concluded by early 2015, an FCA spokesman said.

"To access and manage our money we depend on the banks' IT systems to be reliable. But IT outages continue, interrupting key banking services," Clive Adamson, FCA director of supervision, said in a statement.

(Reporting by Huw Jones, Chris Vellacott)

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