Wells Fargo Has Customer Fuming Over Recent Outages

Wells Fargo customers are skeptical about the reason why they were unable to access accounts; the bank said there was a power shutdown at one of their facilities due to smoke found during routine maintenance; customer took to Twitter to wonder how smoke at one facility could caused the level of outages experienced; the bank was keen to mention it was not a cybersecurity event and that services were being restored; this is not the first time a technical issue caused problems for the bank, a past glitch caused hundreds of customers into foreclosure; as banks compete with more nimble digital challengers tech issues need to be addressed transparently or banks risk losing market share. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments