Finnish banks warn of ongoing payment disruptions

Technical failures in Finnish banks are likely to persist as outdated systems and increasing complexity in payment networks create recurring issues, experts told national broadcaster Yle on Wednesday.

Nordea and POP Bank customers have faced multi-day disruptions this week, with some unable to access account statements or complete transactions. POP Bank’s outages—now in their third day—were caused by scheduled maintenance poorly timed for the start of the month, when many pay bills, according to IT specialist Petteri Järvinen.

“It’s unacceptable that people’s money can be locked up for days,” Järvinen said, calling the bank’s timing “a self-inflicted mistake.”

The problems extend beyond Finland. In May, a failure in the EU-wide EBA Clearing system disrupted instant payments across Europe. Järvinen noted that banks now juggle a growing list of payment methods—e-invoices, credit cards, MobilePay rivals, and contactless systems—while complying with stricter EU anti-money laundering rules.

“Each new layer adds risk,” he said. Instant payments, though faster, offer no recourse for errors: once sent, funds cannot be recalled, unlike traditional transfers that allowed brief windows for cancellation.

Jussi Snellman, a payment systems expert at Finance Finland, agreed that aging infrastructure complicates upgrades. “Many banks still rely on decades-old core systems. Modernizing them without causing disruptions is extremely difficult.”

Experts advise customers to keep cash on hand, pay bills well before deadlines, and maintain accounts at multiple banks as a backup. Mobile certificates can also provide access to services if banking credentials fail.

Finanssivalvonta, Finland’s financial regulator, urged banks last summer to prioritize fraud prevention, but outages and scams have continued.