November 2, 2024

Advancing Digital Excellence

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How the Tech Outage Impacted Banks and Finances

How the Tech Outage Impacted Banks and Finances

A major tech outage impacted a variety of industries and services around the globe on Friday, causing problems for airports, hospitals, and some banks and financial institutions. 

The outage stemmed from “a defect found in a single content update for Windows hosts,” said CrowdStrike (CRWD) CEO George Kurtz, and was “not a security incident or cyberattack.” The update defect meant problems for companies that use Microsoft, and impacts started as early as about midnight Eastern Time on Thursday, according to Microsoft. By early morning Friday, Microsoft had “reports of successful recovery.”


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