Lloyds Bank is the latest financial institutions to experience another banking app outage.
Downdetector, which monitors real-time technical issues and outages, found reports of incidents for the bank skyrocketed this morning.
This is the latest widespread incident to impact peoples’ ability to manage their finances and make payments, including following the global IT outage.
Lloyds has recently launched a new banking app which appears to be causing issues for customers.
Customers have taken to social media to share how they have been impacted by today’s technical error.
On X, one Lloyds customer messaged the bank: “Any idea when online banking problem of seeing account transactions will be resolved?”
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Tech outages are impacting multiple businesses, including banks
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In response, Lloyds said: “We know some of our customers are having issues viewing their recent transactions. We’re sorry about this and we’re working to have it back to normal soon.”
It appears this issue is not just affecting the Lloyds app as customers revealed other internet banking services have been hit.
Another customer added: “I am having issues viewing my account this morning. It shows no transactions for September yet my balance shows there have been transactions.
“Error – not connected to the internet. I am using an Android phone. Same problem when I log in to the website on my laptop.”
Scott Dawson, the head of Sales and Strategic Partnerships at DECTA, broke down the impact on the economy of this continuous trend of IT outages.
He explained: “The news agenda has been dominated with systems and payments outages, that is affecting customers on the high street, at the airport, at their GPs and nearly everywhere else that involves an IT infrastructure.
“It has been announced in some quarters that the problems are stemming from a technical problem with the cloud cybersecurity company, Crowdstrike, and underlines just how interconnected the world’s IT systems are.
“As well as how a problem with one system can have knock-on effects that can do everything from grounding flights to stopping payments.”
The tech expert noted that businesses are more likely to experience “severe consequences” as a result of IT outages and payment errors.
“The problem itself doesn’t come from the payment industry, but the payment industry is being disproportionately affected and the knock on effect is significant,” Dawson said.
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Lloyds Bank has launched a new app
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Given the severe consequences of businesses being unable to accept payments, even for a short period of time the need for the industry to be providing reliable services that can withstand adverse circumstances continues to be of the utmost importance.
“Resilience is going to be a key issue going forward as systems become more complex, and companies like DECTA, who are taking a long view, are going to be vital for preventing problems like this from being a common issue.”
A Lloyds spokesperson told GB News: “We know some of our customers are having issues viewing their recent transactions and our app may be running slower than usual. We’re sorry about this and we’re working to have everything back to normal soon.”