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

High performance access to file storage

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.®

SANS - Survey on application security programs

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.