April 10, 2013 - Royal Bank of Scotland (RBS) is set to face a regulatory probe over the technical glitches that meant some customers could not access their accounts properly last summer.
The Financial Conduct Authority (FCA) - which took over from the Financial Services Authority last week - revealed yesterday (9 April) that it has begun an investigation into the IT failures that affected its customers in June and July 2012.
"The FCA will reach its conclusions in due course and will decide whether or not enforcement action should follow that investigation," the body noted.
In a statement issued after the FCA's announcement, RBS pledged to work closely with the regulator to get to the bottom of the glitches, which the bank admitted were "unacceptable".
"We have already made significant improvements and, over the next three years, will invest hundreds of millions in our systems," the company added.
Last month, a further technical problem at RBS meant some customers could not use their mobile banking apps.