The Internet as a crisis management tool: a critique of banking sites during Y2K

Abstract In 1999, the international banking industry built web sites to address Y2K as a potential crisis that could cause worldwide disruption of information exchanges. Banks, which rely on automated systems to process time-sensitive information, were concerned that their services would be compromised, if computer systems failed due to Y2K-related problems. Although the Y2K crisis did not come to fruition, it is helpful to examine this unique occurrence to understand how organizations can use the Internet for crisis management. This study found that the banking community put more effort into providing Y2K information online than using web sites to interact with constituencies and learn about their concerns.