Customers who logged into the online bank on Tuesday morning discovered that it looked like their savings were gone and that they could not place orders. Avanza CEO Gustaf Unger says it was all a visual error caused by a faulty file from a third party.
Very unfortunate, but it's resolved now.
The problems began on Monday night and continued until 9:30 a.m. And it's not the first time Avanza has suffered a technical glitch.
"You could say they have a technical debt. These are small but embarrassing mistakes," says Aktiespararna's chief legal officer Sverre Linton.
"Avanza has unfortunately gained a reputation for having quite a few technical problems," he continues.
Linton points out that many banks suffer from technology glitches more or less frequently. However, he says that if Avanza's glitches continue, it may be time for the Swedish Financial Supervisory Authority to review the company's IT systems.
The brand damage becomes significantly greater and worse the longer it goes on.
