Lloyds TSB says that security concerns at other online banks are not the reason why it has put back the UK launch of its internet bank.
It was believed that Lloyds TSB had planned to launch Evolvebank in the UK at the end of this year. Some industry watchers said that it had pushed back the public launch until 2001 after other online banks suffered security glitches.
But Lloyds TSB insisted last week that it had always planned a measured approach to the launch of Evolvebank and is "on track" with the rollout. It will trial the online service with a small number of UK customers later this year, prior to a full launch to the public.
"We have always been on track with the launch, said a spokeswoman for Lloyds TSB. "We are adopting a cautious and phased approach to ensure we can deal with huge capacity without falling over."
Evolvebank launched in the Iberian peninsula this week following a trial with 100 customers. It plans to build a customer base of 60,000 in the first 12 months of operation in Spain.
Lloyds TSB was at the centre of security scare earlier this year when a hole was discovered by industry analyst Richard Holway in August. It took the bank two months to diagnose and correct the glitch.
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