A series of fresh technology shutdowns this spring at banks around the world reveals the financial services industry still has a long way to go toward ensuring full up time for networks, as well as communicating with the public about why tech glitches have happened and what is being done about them.
In May, Santander, Barclays and HSBC were all hit by digital banking outages. Some customers of Barclays and Santander were unable to access accounts online for a time near the end of the month, an outage blamed largely on end-of-the-month transaction volume. At HSBC, an IT hardware failure temporarily rendered ATMs unable to dispense cash or accept card payments in the U.K. Barclays and Santander both apologized for the outages though statements, while HSBC’s approach revealed both the power and peril of social media in such cases.
Read the rest of Banking Outage Prevention Tips at BTN.
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