Bancolombia reveals the cause of the outage: “The technology provider made a mistake, the money is safe”
Bancolombia publicly acknowledged that it failed in one of its essential promises: to guarantee the availability of its clients' money when they needed it...
TL;DR
- Bancolombia apologized for system failures impacting customer access to funds.
- The issue stemmed from a technology provider's error during a system modernization process, not a cyberattack.
- Customer money and information were never compromised.
- Essential services like ATM withdrawals, card payments, and internal transfers are being prioritized.
- Bancolombia will evaluate compensation for businesses impacted, especially regarding payroll.
- The bank plans substantial investments in technology, allocating 786 billion pesos in 2025 and nearly 1 trillion pesos in 2026.
- Protocols will be reviewed with technology partners and regulators to prevent recurrence.