Bank and Card Processor Outages Frustrate UK Consumers

According to a new survey by Which? 14 percent of UK consumers found it impossible to use their card at one point in 2018 and 5 percent had multiple instances; 10 percent of customers who were unable to use their card incurred fees due to a late payment; “Digital payments have enhanced many people’s lives – but many still rely on cash and all of us risk being shut out of paying for goods and services when technology lets us down,” said Gareth Shaw, Head of Money at Which?, to AltFi; previously Which? reported that the FCA flagged 302 IT incidents at banks between April and December 2018. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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