Bank outages - Are there gaps in the system? | Heart of the Matter podcast

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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