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Financial industry experts said X.com's experience highlights the potential risks of introducing Internet banking systems before they are completely tested.
It said there was "a complex technical issue with our internet banking systems" and said that the outage was not a cyber-attack or any other malicious act.
Remember that millions of people trust internet banking systems".
For example, Im, Hong, and Kang (2011) used this model to predict users' adoption of MP3 players and Internet banking systems in Korea and the United States.
There's of course a darker side to all this, particularly around biometric security and internet banking systems that use your voice to authenticate your identity.
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TSB customers continue to report problems tonight, as TSB's tech staff wrestle with its internet banking system.
The bank's Internet banking system remains unusable, but it said this was used by a very small number of its customers.
It acknowledged that many people preferred to manage most or all of their financial products through one branch or a single internet banking system.
"Online fraud via HSBC's internet banking system is substantially lower than the market average and we are satisfied our customers are adequately protected". Far from requiring a sophisticated hacking operation, however, the Cardiff team believes hackers could access accounts with ease once the loophole is spotted.
In order to know what you have in your account, log onto your bank's Internet banking system at least once daily to keep tabs on what you have (and don't have).
CMU's Shoop points out that "Robotic technologies are ubiquitous, they are everywhere, but we just don't call them robots - we call them cars, cell phones, banking systems, the Internet... Since smart systems are everywhere it is important that kids know how they work".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com