Is old tech putting banks under threat of extinction? – BBC News

Almost everyone has an bad experience with this situation , unable to access online bank account and other services.

The problem is that the old mainframe computers – the workhorses of the global banking industry – have been chugging away keeping tabs on all our transactions for decades now. They’re slow and reliable.

But the world has changed.

We’ve gone mobile and online. We expect real-time transactions and access to financial services around the clock.

And these system failures – or outages in the jargon – undermine confidence in traditional banking and encourage more competition from nimbler start-ups.

via Is old tech putting banks under threat of extinction? – BBC News