For a financial institution not to have multiple back up systems...

For a financial institution not to have multiple back up systems is deplorable. I hope they bring out a press release without any BS component stating how they are going to address the issues.

These days even most pissant web hosting companies have multiple server sites with full back up , even their data centre should be double hosted as a back up. I feel as if i am living in Cambodia with these 3rd World IT issues.