Recovering from acts of malice, incompetence and God in banking IT systems

Recovering from acts of malice, incompetence and God in banking IT systems

In the wake of huge amounts of down time across many of the country’s key financial institutions, the Bank of England and the Financial Conduct Authority has had enough.

The joint initiative has set a 5 October deadline for banks to report their exposure to risks and response measures for outages. It has already been suggested that two days should be the ‘maximum outage time’, though the pair will make a final decision based on the outcome of the reports.

Alex Fagioli discusses this and the issues around banks and financial institutions being able to recover effectively in his recent article published in Global Banking Technology:

https://www.globalbankingandfinance.com/recovering-from-acts-of-malice-incompetence-and-god-in-banking-it-systems/

19.06.2019