Bank outages - Are there gaps in the system? | Heart of the Matter podcast
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- Опубликовано: 31 май 2024
- The recent DBS and Citibank outage in October left many people unable to pay for their transactions and draw money from the ATMs. What goes on when critical banking infrastructure goes black? How are data centres part of this and should we really revert to carrying cash again?
Steven Chia gets answers from Dr Patrick Thng, director of the Master's programme for financial technology and analytics at the Singapore Management University and Ashish Kakar, research director for IDC Financial Insights, Asia Pacific.
00:00 Intro
02:10 How interlinked is the entire digital banking infrastructure
02:53 Potential solution if there's a bank outage
06:42 How are data centres linked to banks
11:50 Is it fair to expect a data centre to work flawlessly
15:16 What can be done to minimise the risks
22:35 Time to review our critical banking infrastructure
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![Darren Waller - Who Knew (Her Perspective) [Official Video]](http://i.ytimg.com/vi/GytDjB8u6bM/mqdefault.jpg)
The imported citizen CEO is still standing high and tall, refusing to step down, sia suay
MAS n DBS heads both IMPORTED CECAs
Did They serve NS ?
As if increase "hiring" is the solution. Its actually the lapse in the system design that cause such repeating issues for such non-resilient.
Robust Redundancy definitely must be properly planned in the banking digital system
MAS n DBS heads both IMPORTED CECAs
Did They serve NS ?
ALWAYS sub Out.
Use CHEAP 3rd WORLD Labour.
So there U have it In A Nutshell
As a tech guy who design & deploy cloud solutions for customers… pls take some of the comment w a pinch of salt, perhaps I could sign up as an associate prof
Downtimes are expected what is more worrying is the time to recover. The tech culture in SG traditional banks are just not cut out for this.
Put LTA Engineers in Charge
Have U EVER SEEN ERP DOWN n NOT WORK ?
4G Very Good at COLLECTING 💰💰💰
If the banks think for customers welfare they could have more prevention measures. It should not be happening terribly often. Obviously, over the years, DBS keep reducing services from physical outlets, savings only for banks bottomline. They forget the customers for their profit and bonuses of management😢 ! 😢. Sure people suffer la.
After so many years, 10 or 20 years, what have the pap,lee and Tharman done,said, chipped out or given for normal Singaporeans?
Nothing even at all.
Small problems why make it a big issue. Just Carry some cash .is just common sense
CASH is KING
I NEVER Leave home WITHOUT at Least $500 in the Wallet
Customers are just like livestocks to banks as farm animals to farmers. Robustness is actually about the CEO & executives pay packages.
What was the name of the minister or nmp who shamed people for not adopting digital payment? Should include him in this interview.
It looks convenient to have everything in a hp but there are risks which one has to bear. Never put all eggs in a basket. I personally prefer things to run independently, in case the main fails, it will still not be a total inconvenience to me.
Need more outsourcing to India la. All these high paying in SG enjoying too much life in SG
China is a better bet. Their online no failure one😂 India most still pay in cash.
ALWAYS sub Out.
Use CHEAP 3rd WORLD Labour.
MAS n DBS heads are IMPORTED CECA.
So there U have it In A Nutshell
Reflect: Thanks CNA for sharing the Heart of the Matter Podcast. In fact, a successful digitalized system MUST NOT be jeopardized by the stakeholder. Lacking a good SECURITY system is a significant gap in today's digitalized system. For domestic transactions, users bank accounts and e-wallets MUST be separated effectively. Make only ONE WAY linked from bank accounts to e-wallets for topping up purposes BUT e-wallets will NEVER be linked back to any bank accounts (like MRT EZ-Link Card system). Commercial and business transactions will remain the TT transferring method with SWIFT Code, so that ALL monetary transactions will be well managed and monitored to prevent potential illegal transactions like money laundering; etc. Hope this suggestion will make everyone feel safe to enter the digital world. God Is Love! 🙏🏻💕🌻🌏💕🌈
Yes , CNA is Reliable … always Covering Topics from Government’s Perspective … Maybe You Try ask abt “ Phenomena “ surrounding Timing of LKY’s Death or SG’s COVID which all reek of Scandals 😂
Esau I have hated. If God could be evil to them/others, he can be evil to you too!
@@Joo-vw9kb 🙏🏻✌🏻
Expertise in setting up systems but no know how to make them perfect !
ALWAYS sub Out.
Use CHEAP 3rd WORLD Labour.
So there U have it In A Nutshell
Re think cashless payment?
CASH is KING
Instead of fixing the opposition, the pap should solve the problems of the land for example high GST, high cost of living, low standard of living and 1 million foreigners and Singapore prs.
Now Singaporean who are anti china can have a deep reflection. 😂
Look at China Payment system.
NEVER DOWN
MAS n DBS heads both IMPORTED CECAs
Did They serve NS ?
ALWAYS sub Out.
Use CHEAP 3rd WORLD Labour.
So there U have it In A Nutshell
that's how the social credit system is going to work lol
Suggest CNA to improve on the lightings. Some independent podcasts have a much better lightings.
abit late ah CNA
The chinese prof:
Top half: 🧍♂️
Bottom half: 🕺
I could not pump petrol my car stuck at the petrol kiosk !!!
Decentralized ledgers is able to resolve this. Ethereum and Polygon has never gone down.
yes there!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Banks aren't safe anymore??
Welcome to Digital Feudalism…with the Occasional False sense of Accountability 😊
Put LTA Engineers in Charge
Have U EVER SEEN ERP DOWN n NOT WORK ?
4G Very Good at COLLECTING 💰💰💰
I prefer to use cash
It is Eveready
MAS n DBS heads both IMPORTED CECAs
Did They serve NS ?
Probably d b s are manned by " foreign talent " that's why thay are not as effective as manned by local talent.
Need invest into critical testing for loading, stress, outage recovery and performance.
Cannot save $$$ to boost profitability
The great reset...
...CIA
Digitalization
Nwo agenda
ENERGY VAMPIRE CROOKS
🇵🇰 = 👑 🇮🇳 = 💩
Beware: Test 🎈
Gaps in the system? Yah, your back side sure got ONE BIG GAP LOH!
Asking the question ...WHEN THEY THEMSELVES ALREADY GOT THE ANSWER!😆😆😆😆
MAS n DBS heads both IMPORTED CECAs
Did They serve NS ?
ALWAYS sub Out.
Use CHEAP 3rd WORLD Labour.
So there U have it In A Nutshell
Going cashless is the most silly and stupid thing by pap. What a brilliant idea. 🤣🤣🤣🤣🤣🤣🤣
CASH is KING
In Elon's podcast with Lex yesterday, he said there'll probably be an electricity shortage within 2 years due to faster transition into the electric transportation usage worldwide...
So electricity bill will get more expensive, & for smaller countries, like Singapore, might get more disruptions.
The solution that Elon recommended is for company to install more battery as backup energy buffer, using TESLA power battery with solar energy as supplement to conventional energy etc.
Never, never ever listen to a word Elon says. You will regret it.
@@karenlynne6200 Elon Musk is a Iiar.
@@user-px7xp6rw7c plz share with us what lies you think he said? I'm not a saint, but humans do lie from time to time, even more so as businessman. If you can't accept that, then you're just not open minded enough, or not smart enough to tell what's bs & what's true meaningful words. That's your own fault actually...