It seems that Australian banks have been experiencing a number of computer glitches which have prevented consumers from accessing their funds:
I would be forgiving if these glitches were one-off and if they were localised to one bank; however, this is not the case. In fact, these glitches have:
- In the case of NAB, occured more than once
- Have affected other banks in Ireland, Finland, Japan and the USA (another USA article here)
- and have been occurring since mid 2010.
I've read some posts blaming these glitches on the outsourcing of IT work, but I find it hard to believe that outsourcing alone can be blamed for so many glitches across so many banks in so many countries.
The skeptic in me thinks that the banks are having issues with cash flow... Can anyone else shed some light on this?
PS: I found other articles showing that these glitches have occurred at least twice in CBA's computer systems in 2008 and in a UK bank in march 2007