Loading ...Banks Around World Are Suffering Big Outages, Leaving Millions Of Customers In Lurch At Worst Possible Time
Twenty banks (some suffering repeated outages), six countries (one in lockdown), five continents, tens of millions of unhappy customers…
“All of these bank outages are happening for a variety of reasons, from internal problems within a bank’s IT system (Mizuho, Sabadell) to a botched update (BBVA), to a cyber attack (Kiwibank), to the downing of a hosting service (the collapse of bank websites around the world on July 22). But one thing they all highlight is the inherent fragility of banks’ IT systems, at a time when many people are using less and less cash and are becoming more and more dependent on digital banking services. ”