Major IT Glitches Hit UK’s Leading Banks Over Two Years

by News Editor

March 10, 2025

Britain’s largest banks have experienced significant IT outages over the past two years, blocking customers from accessing their accounts and causing widespread disruption. According to a report from the Treasury Committee, nine major UK banks and building societies suffered a total of 803 hours of unplanned technical failures, equating to more than 33 full days of service downtime. These glitches have affected millions of customers, raising concerns over the reliability of the UK banking sector’s digital infrastructure.

The data, compiled by the Treasury Committee, reveals that between January 2023 and February 2025, there were at least 158 separate IT failures across institutions such as Barclays, HSBC, Lloyds, Nationwide, Santander, NatWest, Danske Bank, Bank of Ireland, and Allied Irish Bank. However, the reported figures exclude more recent outages, including a series of disruptions affecting Barclays between January 31 and February 2, as well as several banks on February 28. The Committee is seeking further information on these additional incidents.

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Barclays was the most affected, with 33 outages reported, including one that caused 56% of online payments to fail. The bank is now preparing to compensate customers, estimating between £5 million and £7.5 million in payouts. HSBC and Santander followed closely, each recording 32 outages during the period, while Nationwide, NatWest, and Lloyds reported 18, 13, and 12 disruptions, respectively.

Meg Hillier, Chair of the Treasury Select Committee, expressed concern over the impact of these failures, particularly for families relying on timely access to their accounts. “For families and individuals living paycheck to paycheck, losing access to banking services on payday can be a terrifying experience,” Hillier said. She commended the banks that have compensated their customers but urged others to reconsider their response and improve the support offered to those affected by such technical issues.

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Global Investment Migration: Leading Residence And Citizenship Programs For 2026

by THEFUTURE.TEAM

February 24, 2026

European Dominance Challenged By Global Contenders

The 2026 edition of the Henley & Partners Residence and Citizenship Programs report shows increasing competition in the investment migration market. European programs, traditionally seen as the global benchmark, are now facing stronger competition from jurisdictions in the Middle East, Asia-Pacific, Latin America, and the Caribbean as countries expand offerings aimed at attracting capital and internationally mobile investors.

New Entrants And Rapid Climbers Reshape The Landscape

Malta remains ranked first in the Global Citizenship Program Index for the 11th consecutive year, while Greece retains the top position in the Global Residence Program Index. At the same time, several jurisdictions improved their standings. The UAE moved from fifth to a joint second position, entering the top three for the first time. Countries including Costa Rica, New Zealand, Panama, and Singapore also gained ground, while Uruguay, Saudi Arabia, and the Maldives appeared as new entrants.

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Competing For Capital And Global Talent

Governments increasingly use residence and citizenship frameworks as tools to attract foreign investment and entrepreneurial talent. According to Henley & Partners Chairman Dr. Christian H. Kaelin, Europe remains a strong player, but countries such as Singapore and the UAE are accelerating reforms to strengthen their appeal to globally mobile investors.

Established Leaders And Agile Newcomers In Citizenship Programs

The Global Citizenship Program Index continues to be led by established programs. Malta’s citizenship-by-merit framework scored 77 points, maintaining its leading position, while Austria followed with a highly selective model. Programs in Grenada, St. Kitts and Nevis, and Nauru also received strong rankings. New entrants such as São Tomé and Príncipe and Samoa reflect a broader expansion of citizenship-based offerings.

European Consolidation And Emerging Residence Hubs

In the residence category, Greece remains first, supported by EU access and lifestyle advantages. Italy, Switzerland, and the UAE continue to compete closely, combining tax efficiency with investor-oriented policies. Portugal and Australia maintain strong positions, while Uruguay is emerging as a stable option with growing international interest.

Performance Metrics And Strategic Advantages

Both indexes evaluate 40 programs across factors including reputation, quality of life, compliance standards, investment requirements, and tax considerations. Austria and Malta scored strongly on program quality, while the UAE ranked highly in lifestyle and tax competitiveness. The rankings highlight how jurisdictions are positioning themselves to attract globally mobile capital.

Wealth On The Move

The report points to a broader shift in global wealth mobility. According to Dominic Volek, Group Head of Private Clients at Henley & Partners, investors increasingly prioritize stability, transparency, and clear long-term pathways when choosing residence or citizenship options.

As global uncertainty persists, residence and citizenship programs are increasingly viewed not only as investment tools but as strategic instruments for long-term mobility and risk diversification.

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