Customers at PNC Financial Services on Tuesday were unable to access their online and mobile banking accounts for several hours because of an unspecified issue with the company’s technology.
At about 10 a.m., PNC announced on Twitter that it was having problems with its digital banking platforms. No additional details were provided, though the Pittsburgh company said in a separate tweet that its ATM and branch network were available for customers who needed to make deposits and withdrawals.
“We are currently experiencing a technology issue which may intermittently impact customer access to online banking,” the $371 billion-asset PNC said in a statement posted on its website. “Our teams are working to restore full access as soon as possible.”
A PNC Bank branch stands in this photo taken with a tilt-shift lens in Washington, D.C., U.S., on Tuesday, Nov. 11, 2014. PNC Financial Services Group Inc., the second-biggest U.S. regional bank, posted third-quarter profit last month that beat analysts' estimates as asset-management revenue increased. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg
Shortly before 2 p.m., PNC announced on Twitter that the problem had been resolved, describing it as an issue with the company’s hardware.
A spokeswoman for the company said the issue, which emerged “early this morning,” affected both retail and commercial customers. She declined to provide additional details about the nature of the hardware problem.
The outage is the latest in a string of recent tech glitches affecting big banks across the industry. Earlier this month, a group of customers of Simple — the online banking upstart owned by BBVA Compass — were unable to access their balances or view their recent transactions.
Similarly, JPMorgan Chase customers in May were temporarily prevented from making online and mobile payments because of unspecified problems with the company’s technology.
In its latest financial stability report, the Federal Reserve found that asset prices continue to exceed underlying fundamentals and leverage levels remain high, especially by hedge funds.
The Consumer Financial Protection Bureau's exit from a suit jointly filed with the New York attorney general's office narrows a major subprime lending case.
Ranjana Clark is the newest member of Texas Capital Bancshares' board of directors; Minnesota's Wings Credit Union and Colorado's Ent Credit Union are merging; Regions Bank adds Angela Santone to its C-suite; and more in this week's banking news roundup.
The Long Island-based regional bank, which reported another quarterly loss Friday, continues to hire in the commercial-and-industrial lending sphere as it seeks to diversify its commercial real estate-heavy business.
