HSBC, one of the world’s largest banking and financial services organizations, has issued an apology after thousands of its UK customers were unable to access their digital banking services for an extended period on Friday, November 24, 2023.
The outage, which affected both mobile and online banking services, began shortly after 7:00 AM GMT and peaked at over 4,000 reported issues by 9:00 AM GMT. Customers reported being unable to log into their accounts, check balances, make transfers, or authorize online card payments.
HSBC acknowledged the outage on social media and its website, stating that it was working hard to restore service. The bank also apologized for the inconvenience caused to its customers.
Customer Frustration
The outage caused significant frustration among HSBC’s UK customers, many of whom took to social media to express their anger and disappointment. Some customers reported being unable to make important payments, such as rent or mortgage installments, due to the outage.
Others expressed concern about the potential impact on their Black Friday shopping plans, as many retailers were offering discounted deals on Friday and throughout the weekend.
HSBC’s Response
HSBC responded to the outage by deploying its technical team to investigate the cause and restore service as quickly as possible. The bank also provided regular updates on its website and social media channels, keeping customers informed of the progress being made.
By late afternoon on Friday, HSBC reported that the majority of services had been restored and that it was continuing to monitor the situation to ensure that there were no further disruptions.
Cause of the Outage
HSBC has not yet released a detailed explanation of the cause of the outage, but it is believed to have been an internal system issue. The bank has stated that it is conducting a thorough investigation to identify the root cause of the problem and prevent similar outages from happening in the future.
Impact on HSBC
The outage is likely to have a negative impact on HSBC’s reputation in the UK. The bank has already faced criticism in the past for its IT issues, and this latest outage is likely to further erode customer trust.
HSBC will need to take steps to regain the trust of its UK customers, such as improving its communication during outages, investing in its IT infrastructure, and ensuring that it has robust systems in place to prevent future disruptions.
The HSBC outage is a reminder of the importance of reliable and resilient IT systems for businesses, particularly in the financial services sector. Outages can cause significant disruption to customers and damage a company’s reputation.
HSBC must learn from this experience and take steps to ensure that its IT systems are up to the task of meeting the needs of its customers in the digital age.