The chief executive of RBS has admitted last night's situation where customers found themselves unable to pay at tills and unable to access online banking as "unacceptable" and has blamed decades of failure "to invest properly in its systems":
Last night's systems failure was unacceptable.
Yesterday was a busy shopping day and far too many of our customers were let down, unable to make purchases and withdraw cash.
For decades, RBS failed to invest properly in its systems.
We need to put our customers' needs at the centre of all we do.
It will take time, but we are investing heavily in building IT systems our customers can rely on.
I'm sorry for the inconvenience we caused our customers. We know we have to do better.