Citizens Latest Outage Shows Growing Pains as Banks Innovate

Customers of Citizens Financial Group were not able to access only or mobile banking in what the bank said was a tech issue; this is the third time in as many months that the bank has dealt with a tech related issue; banks of all sizes have seen similar technology related issues including JPMorgan Chase, PNC Financial Services and BB&T; all have had outages which block customers from accessing their accounts; as banks look to upgrade legacy tech they are finding the process comes with growing pains and increased competition from fintechs who have an easier time producing an all digital experience. Source.

  • Todd 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.

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