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.