Thursday, 27 March 2008
Sampo or Is There Still a Finnish Bank Around?
"Problems that emerged with the new online banking system of Sampo Bank on Tuesday were not limited to breaks in service and incorrect or missing information on money transfers and bank balances"
"The glitches, that continued on Wednesday, were prompted by changes enacted at Sampo aimed at integrating its operations with the Danish Danske Bank, which bought Sampo last year. "
"One customer in the Uusimaa (Helsinki) region noticed on Wednesday that his monthly housing loan payment had been deducted from his account twice. "
Humm...looks like Danske bank is in need of fresh cash...since they are trying to get twice the money from that poor customer...well he will get it back after few days...hopefully with interest...since this time it's the customer that lent money to the bank...
Nethertheless , the question you migh ask is : do we still have major Finnish bank in Finland? Nordea is Swedish, Sampo is now Danish...now the second question would be : Do we then need Financial Watchdog and a Central banker like Erkki Liikanen? Well hard to say since they have no control of foreign banks... Welcome to the financial "wild wild west", where Erkki is driving the main car without wheel...or it's as well like Tarja Halonen being president but without the power or like the U.S. financial system without corrupt Paulson ...