From Bank Systems and Technology Online Web Site:
Amidst the chaos immediately following Hurricane Katrina, it was reassuring to see at least one entity had its act together—the financial services sector. Even before the floodwaters began to recede, banks in the hurricane zone were in action, attempting to restore their operations.
Although there was no mass disruption of the large-value payments systems and core systems that occurred after 9/11, Katrina’s effects were no less significant from a retail banking perspective. Consumers’ ability to simply subsist depended on their being able to access their funds. This became a top priority for banks….