Feeds

Cahoot: Another online launch fails to anticipate customer interest

The good news is, accounts with interest free overdrafts are still there for the taking...

  • alert
  • submit to reddit

Boost IT visibility and business value

Cahoot, Abbey National's new online bank crashed only hours after yesterday's launch and was only accessible intermittently throughout the day.

The online bank cost Abbey National £200 million to set up after much hyped investment in 'superior technology' that still failed on the day. The bank has so far had no explanation for the technical troubles, but there has been much speculation that unexpected interest overloaded the system.

Tim Murley, Cahoot's managing director told the Express 'This is certainly very embarrassing. We are putting our hands up and saying we got it wrong.' He also said he was not convinced that the problem was traffic volume.

But the good news is that because the system could not process applications as quickly as anticipated,there are still about 24,000 interest free overdraft accounts available for those not put off by yesterday's messy start.®

The Essential Guide to IT Transformation

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.