Multiple high street banks have been struck by this morning’s global IT outage, including Lloyds Bank and Santander. Microsoft and CrowdStrike are both working on fixes for the issue, which has impacted businesses and online services worldwide all day.
Cybersecurity experts have previously warned how bank customers at risk from these outages Andrew Martin, CEO and Founder of SMEB, says: “Payment outages shine a fresh light on the continued importance of cash and why the march to a cashless society is a bad idea.
“We’re seeing a growing number of businesses across the UK label themselves as ‘cashless’ venues and it makes you wonder how they must cope when technical glitches like this happen, and the frustration it must cause their customers.“Fortunately, millions of customers and businesses still recognise the benefits of cash. Unfortunately getting your hands on it is not as easy as it used to be.
“The UK has lost 6000 bank branches since 2015, meaning that access to crucial financial services, such as the ability to withdraw and deposit cash at the end of the day, is no longer possible in many areas.
“Now that the UK has chosen its new government, we need to see them spring into action to solve the UK’s banking deserts. Every day that we wait, local businesses will suffer.”