Is Old Tech Putting Banks Under Threat Of Extinction? (bbc.co.uk)

Matthew Wall from the BBC has written a fascinating piece detailing our reliance on banks in today's connected and ever-changing world of technology. The premise: "You put your card in the cash machine but nothing comes out. The bank's IT systems have crashed again. But you need money fast, so what do you do? It's an unsettling scenario that is likely to become more common over the next few years as the big banks try to upgrade their IT systems, experts are warning."

Bruce66423 writes: In the old days everything was batch programs and reconciled once a day. Now, online access and the expectation that money will be immediately available makes the old systems obsolete, but impossible to replace because there are layers upon layers of complexity...

Comments

Re:the War on Cash

[religionofpeas]

Also, let me know when you'll stop using the -1 mod for "Disagree, but I can't think of a good reply"