🚨 Barclays’ $7.5M Oops

One bank’s IT disaster, another bank’s smart play!

March 10, 2025

Welcome to Fintech Wire — your quick guide to what’s shaping finance and tech today.

What we’ll cover today:

✅ Barclays’ $7.5M payout after an IT meltdown

✅ WSFS Bank’s new financial literacy app for kids

✅ Expert takes on banking tech & fintech trends

✅ Must-attend fintech events

Barclays, a major UK bank, experienced a three-day IT glitch, causing payment failures and customer frustration.

🚨Breaking News: Barclays to compensate customers up to £7.5 million after a software problem led to widespread service disruptions.

⚡Wire Simplified:

  • From January 31 to February 2, Barclays faced a major IT issue.

  • This glitch caused 56% of online payments to fail.

  • The problem coincided with payday and tax deadlines, amplifying customer distress.

  • Barclays identified a software problem in their UK mainframe system as the cause.

  • The bank expects to pay between £5 million and £7.5 million in compensation.

✔️Straight to the Point: Barclays' recent IT failure highlights the challenges banks face with technology, emphasizing the need for robust systems to protect customers.

🎤 Do you think banks should invest more in IT infrastructure to prevent such outages?

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WSFS Bank partners with Greenlight to offer a fun app teaching kids and teens about money management.

🚨Breaking News: WSFS Bank teams up with Greenlight to provide a free financial literacy app, helping youngsters develop smart money habits.

⚡Wire Simplified:

  • Greenlight offers a debit card and app designed for kids and teens.

  • The app includes educational games on earning, saving, spending, and giving.

  • Parents can monitor and control their children's spending through the app.

  • WSFS Bank customers get free access to Greenlight's services.

  • This partnership aims to promote financial literacy among young people.

✔️Straight to the Point: By collaborating with Greenlight, WSFS Bank empowers the next generation with essential financial skills, blending education with practical tools.

FinovateFall 2025
FinovateFall is a leading FinTech conference that showcases cutting-edge banking and financial technology through short-form demos and expert insights. The event also includes the Finovate Awards, recognizing companies driving FinTech innovation forward.
Date: September 8–10, 2025 | Location: New York, NY, USA


Money20/20 USA 2025
Money20/20 USA is a premier event that brings together the global FinTech community to discuss the future of money, payments, and financial services. The event features industry leaders, innovators, and disruptors.
Date: October 26–28, 2025 | Location: Las Vegas, NV, USA


24 Fintech 2025
24 Fintech is a global FinTech movement that sets the stage for the next chapter in financial technology. The event brings together industry leaders to discuss the future of FinTech, including topics like digital currencies, AI, and open banking.
Date: September 2025 | Location: Riyadh, Saudi Arabia

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