Commercial banks told to be vigilant against system crashes over the holidays

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Commercial banks told to be vigilant against system crashes over the holidays

By THE NATION

 

Siritida Panomwon Na Ayudhya

 

The Bank of Thailand has reported 12 system crashes of commercial banks in the third quarter of 2019, a significant decrease over the 38 crashes in the second quarter.

 

The 12 were made up of eight mobile banking system crashes, three in the ATM and CDM system, and one system crash at a CIMB branch office.

 

Most of the mobile banking crashes were in Krung Thai Bank’s system, while CIMB crashed twice. The remaining three affected Bangkok Bank, Thai Military Bank (TMB), and Tisco Bank.

 

The three ATM system crashes were at Bangkok Bank, Krung Thai Bank, and Kiatnakin Bank.

 

BOT assistant governor of payment systems policy and financial technology group, Siritida Panomwon Na Ayudhya noted the decrease, especially in Krung Thai Bank’s system, which had suffered many problems in the past. 

 

“Most of the system crashes in the third quarter were caused by a twofold increase in transactions” she added.

 

As transactions are highest in the fourth quarter, BOT is urging commercial banks to closely monitor systems affected by increased use, “BOT has already spoken to those banks about creating a long-term plan to stabilize their systems,” she added.

 

Source: https://www.nationthailand.com/news/30379745

 

-- © Copyright The Nation Thailand 2019-12-23

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