.jpg?itok=S4gf2xTo "Heart of the Matter Podcast: Bank outages - Are there gaps in the system?")
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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.
Jump to these key moments:
2:10 How interlinked is the entire digital banking infrastructure2:53 Potential solution if there’s a bank outage6:42 How are data centres linked to banks11:50 Is it fair to expect a data centre to work flawlessly15:16 What can be done to minimise the risks22:35 Time to review our critical banking infrastructure
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Have a great topic for us? Drop the team an email at cnapodcasts [at] mediacorp.com.sg