HSBC suffers transaction glitches

HSBC has suffered a pair of glitches in transactional systems in recent days, forcing it to reimburse some customers for their losses.

Earlier this week, the Wall Street Journal reported that the bank’s UK payments system had crashed, delaying a number of transactions for up to three hours. Some of these were payments to other banks worth billions of pounds.

Yesterday, news sources reported that the bank’s online stock trading system in Hong Kong had failed to process some overnight orders properly. The glitch affected just 3% of transaction, the bank said, and it will reimburse any affected customers.

According to English-language Hong Kong newspaper The Standard, it was the third glitch to affect that particular system in a year.

Avatar photo

Ben Rossi

Ben was Vitesse Media's editorial director, leading content creation and editorial strategy across all Vitesse products, including its market-leading B2B and consumer magazines, websites, research and...

Related Topics