£1.89m fine in relation to outsourcing failings and Raphaels Bank

Posted by Aktis Team on 31 May 2019
UK financial authorities the PRA and FCA have jointly fined Raphaels Bank for poor management of its outsourcing arrangements between 2014 and 2016. The penalty was levied in relation to a technology failure related to the bank's card processor in December 2015 that lasted lasted over eight hours. 
 

Topics: News Watch, UK