Banking

Bank of Ireland chief apologies after IT system failure “damaged” trust in the bank

Myles O’Grady, the chief executive of Bank of Ireland, said the bank’s significant technology outage this week had damaged its reputation

Myles O’Grady, the chief executive of Bank of Ireland, has said the bank “fell well below the standards” expected by its customers

Myles O’Grady, the chief executive of Bank of Ireland, has said the bank “fell well below the standards” expected by its customers and apologised for the failure of its IT systems, which allowed customers gain access to funds beyond those actually in their accounts.

He added that the bank’s reputation and trust had been “damaged” as a result of the glitch, which saw Gardaí deployed around the country to close ATMs after consumers swarmed to ...