Bank app problems 'could be result of underinvestment'

As NatWest deals with technical problems the boss of new financial watchdog, the Financial Conduct Authority, tells me he's worried that the banks' systems are "relatively fragile".

NatWest customers found themselves locked out of the app today
NatWest customers found themselves locked out of the app today Credit: Press Association

Martin Wheatley, the boss of the FCA, which comes into being on April 1 and replaces the FSA, says he is concerned the industry has underinvested in IT. Wheatley also tells me that executive pay at banks is too high and the compensation structure still wrong.

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Mobile banking technical fault

NatWest, RBS and Ulster Bank customers are struggling to log on to mobile banking services because of a technical fault.