A post relating to this item from Finextra:
22 August, 2008
HSBC Bank USA struggling with core banking glitch
HSBC Bank USA - the North American subsidiary of the British banking group - has been struggling to restore data and update account balances following technical problems with its core banking platform.
It appears they had a problem also with their desaster recovery plan as well. I wonder who their core processor is? or the software system they are using? I sure hope they are able to get things moving again before it causes to much damage to the bank.
I also hope their customer base is forgiving - we depend on technology so much these days that we always expect it to run perfectly 100% of the time and we forget that it too can break down - just like our autos do!