Webster Bank Says ‘We Need to Fix’ Its Account System
First Horizon Bank says it is working with “multiple parties” to address “the most urgent issues” surrounding its account system.
The bank said in a statement on Thursday that it has hired a “team of experienced and experienced team members” to “take a proactive approach to address these issues” and said that it would “be taking a number of actions to improve our service in the coming weeks.”
First Horizon Bank is one of the most popular bank accounts in the U.S. Its customers have deposited more than $1 trillion, according to data compiled by Bankrate.com.
The company has struggled with the issue of unauthorized access to its systems and is considering various solutions, including an automated system that can automatically delete unwanted activity from the accounts, and a new app that can be used to automatically log users into other bank accounts.
Last week, First Horizon said it had “lost” more than 500,000 users who had accessed its accounts without authorization, according the company.
The Associated Press contributed to this report.