Digital banking company Revolut is working to restore services after a major outage disrupted its app and banking features across multiple markets on Tuesday, October 20.
Thousands of customers reported problems accessing their accounts, making card payments, transferring money, and using other banking services. Users also experienced difficulties with ATM withdrawals and cryptocurrency features, according to outage reports and the company’s service status page.
The disruption appears to be linked to a wider Google Cloud outage affecting its London region. Reuters reported that the Revolut incident was related to problems with Google Cloud services in the europe-west2 data center, citing a person familiar with the matter. Google said its engineering team was investigating the disruption, which involved elevated errors and intermittent network failures. However, Revolut has not publicly confirmed the precise cause of the outage. Source: Reuters.
In a statement shared on X, Revolut confirmed that multiple services were experiencing disruptions and reassured customers that their money and personal data remained safe.
“We are currently experiencing a service disruption affecting multiple services. We can confirm that all our customers’ money and data are safe,” the company said.
Revolut added that its team had been working to fix the problem since it was identified on Tuesday morning. The company also apologised to customers for the inconvenience caused by the incident.
The outage affected a broad range of services, including account sign-ins, card payments, bank transfers, ATM withdrawals, currency exchange, stock trading, identity verification and live customer support. Some business banking features were also affected, according to Revolut’s official system status page.
The disruption left some customers unable to access their accounts or use their cards for everyday purchases. Reports also indicated that users encountered error messages when attempting to open the app or check their account information.
The incident highlights how disruptions affecting cloud infrastructure can have consequences for financial services that depend on third-party technology providers. Google Cloud reported issues in its London region, while other businesses, including Germany’s ING, also reported technical problems affecting online banking services. Source: The Guardian.
The outage comes after Revolut disclosed a data breach last month in which personally identifiable information belonging to an undisclosed number of customers was shared with a threat actor impersonating a government agency. The company also suffered a separate security breach in September 2022 that exposed personal, contact and financial information belonging to more than 50,000 customers.
Revolut provides digital banking, money management and investment services to customers across multiple countries and regions. The company has grown into one of Europe’s largest digital financial platforms, serving both individual consumers and businesses.
Revolut has maintained that customers’ funds and data are safe during the latest disruption. Customers experiencing problems can check the company’s official system status page for updates as engineers continue working to restore affected services.
This is a developing story.
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