Trading Markets - Northern Rock disaster costs customers £270m
September 20, 2007
Northern Rock customers have, according to latest reports, withdrawn £10 billion over a 3-day period from their accounts. This will lead to a potential loss of £270 million in interest generated due to the speed, or lack thereof, of inter-bank transactions while customers move their savings to a different account.
AppLabs comments on how the Faster Payments Service, to be implemented soon, will help eliminate such problems.
To read the full article online, click here.
What our clients say
“AppLabs understands our business and what we are aiming to achieve. Our relationship is a true partnership where goals and objectives are shared and AppLabs provides innovative approaches and solutions to meet these.”
Geoff Hunkin
Director of Delivery (Information Solutions Division), Experian