ANZ has suffered its second technical outage in as many months as a system glitch knocked out eftpos and credit card transactions across the country for three hours on Tuesday.
DBS Singapore, ANZ, Barclays, again ANZ - these are just the well-publicized cases of ATM / POS outages in the last few months. While fault-tolerant technologies already exist and can possibly prevent such outages, it appears that banks are finding it hard to
justify their 1.5-2X costs in relation to more traditional technologies. The situation is rife for technology providers to innovate and create models that can be used to calculate and demonstrate to banks the $ value of the cost of such outages in terms of
lost revenue, service costs and reputation loss.
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