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OTP showing up 30 mins late? Trnxns not going through? Banks' IT systems are just not designed for this onslaught of digital payments. SBI, HDFC & ICICI had over 80 outages last year. One such outage on Nov 21, saw all of HDFC Bank payments channels going down. The reason? 1/3
Its data center is in the now-bankrupt Reliance Com-owned DAKC. We find out what led to the power outage & how these issues have been in the making for 3 yrs. An audit showed multiple gaps in its datacentre as far back as 2017, a source said. The bank didn't move fast 2/3
In today's story, we look at what brought this on, the effectiveness of banks' contingency plans, and why they have not made giant tech leaps. If you care about your trnxn, you'll find this interesting. https://the-ken.com/story/sorry-for-the-inconvenience-why-your-banks-systems-keep-failing/ 3/3
The fab illustration by @ShirtShanks!
Would you change your bank if you find your transactions repeatedly failing?
@TheKenWeb's subscribers are some of the most knowledgeable people I know. Writing for these kinds of readers is a privilege. This comment from a reader on today's story blew my mind.
