While there is no good time for any company to experience technical difficulties, Black Friday is certainly one of the worst. HSBC are experiencing that nightmare scenario as its digital banking platform has gone down for hours, with users unable to access their accounts.

When attempting to access the mobile banking app users are met with a message telling them to try again later. The message says: “mobile banking currently unavailable. We’re performing a system upgrade to bring you a better banking experience. We apologise for any inconvenience caused.”

The cause of the outage has not been confirmed, leaving people unsure whether this is purely a technical issue or the result of a cyber attack. The long-term effects of this are hard to predict, with the situation not yet being resolved. However, HSBC will perhaps be looking at the damage caused to Square’s reputation after its outage early this year.

HSBC’s technical difficulties to spark outrage?

HSBC took to Twitter to alert and attempt to diffuse some of the annoyance of its customers. HSBC wrote: “We understand some customers are having trouble accessing banking services as usual right now. We’re investigating this as a matter of urgency and will share an update as soon as possible.”

This could have a financial impact on HSBC and its customers. With it being a day of such high spending, some customers are not able to use the app in order to authorise transactions. HSBC followed this up on Twitter by suggesting that customers opt for a one-time passcode over text as an alternative.

The outage has all the makings to cause fury for HSBC customers. Despite this attempt to communicate with customers, it has been met with expected anger. Account holders are vocalising their frustration, merging this with their lack of ability to go into a local branch on the bank of highly publicised branch closures.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData