Ultimately this is the fault of GPS, not the banks. (Unfortunately as a customer, it reflects very badly of the bank) They have agreed a contract with GPS which has failed them. Monzo’s approach to building an in-house processor makes perfect sense, not only as a provider, but also as a bank. If you are a banking institution, you should have complete control of all your systems. Otherwise you can only wait for others to fail, like this week has proved many times over.
As for the Startling statement, it seems all too reminiscent of the AIB days when Anne was in charge…don’t think much has changed.