These technical glitches come alongside a number of industry shaking scandals, from Barclays and others fixing LIBOR rates, to Standard Chartered allegedly handling funds from unauthorised sources in Iran.

What appears to draw these two strands of dis-function in the banking and finance sector is that they are being put down to flaws in process, rather than any technical shortcomings.

In his comment on CIO UK, , Software Improvement Group CTO Tobias Kuipers blames a lack of proficient IT strategy management in banking for a number of decades has resulted in a patchwork of systems that cannot support today's creative and high-octane banking processes. He recommends that an IT stress test be hardwired into banking board's agendas.

However, other commentators say further obligations like this activity will only add to the complexity of the problem and increase the likelihood of processes breaking down, rather than provide for a more durable banking system.

A former senior IT leader in the banking industry told CIO UK that the spate of banking dis-functions is due to the over-complex and highly fragmented regulatory landscape in Europe.