MPs slam HSBC over ‘systemic’ IT failures

6th January 2016


HSBC has been criticised by MPs for the ongoing problems with its online banking services.


Andrew Tyrie, chair of the Treasury Select Committee, suggested there are ‘systemic’ issues with the IT systems that effect custoemrs.


On Monday and Tuesday this week HSBC personal and business account customers were unable to access their accounts and service was not resumed until last night.


This is not the first time the customers suffered problems. A service outage in August prevented 275,000 payments going through just before the Bank Holiday weekend, leaving thousands of people without access to their wages.


‘Barely six months after the last glitch in their underperforming IT systems, HSBC is apologising again to its customers,’ said Tyrie.


‘The frequency of these failures across the financial services sector suggests a systemic weakness in IT infrastructure. This is concerning.


‘I will be asking the chief executive of HSBC, and the regulators, for an explanation of these failures, and action taken to sort them out. They just keep coming.’


HSBC UK chief operating officer John Hackett told the BBC the issues were internal and apologised to customers.


‘I’d like to apologise once more for any inconvenience that this technical issue has caused,’ he said. ‘We will be waiving any fees incurred as a result of this incident; and we will be happy to help all our customers with any issues that have arisen.’



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