Following recent technology glitches that hampered the largest banks in the United Kingdom, the timing of a recent whistleblower lawsuit that accuses the Lloyds Banking Group of faulty business continuity processes couldn't be worse for Lloyds.

After all, Lloyds itself suffered two high-profile technology outages in 2012, including an outage in October and a similar disruption on Dec. 31. In the October incident, customers were not able to access the Lloyds' online services, make payments via credit cards or withdraw money from ATMs. Less than three months later on New Year's Eve, Lloyds customers experienced "intermittent" problems using ATMs and accessing banking account information.

Lloyds' technology problems, although high profile, were not as large as RBS' computer failure on June 19, which was caused by a corrupt software update to the bank's core payments application. Millions of customers NatWest and Ulster Bank could not make payments. Many of NatWest's account holders had to wait for more than a week for the system problems to be fixed, while 100,000 customers of Ulster Bank had to wait almost a month before the payment systems were running normally again.