Icon Solutions featured in International Banker
Icon’s Toine van Beusekom was recently featured in International Banker with his article titled ‘Why do banking IT failures happen, and what can we do about them?’.
In 2018, MPs announced a planned inquiry into several major IT failures that plagued banks with various subsequent issues within their services. A Treasury Select Committee will look at how financial services companies deal with service disruption or stop it from happening altogether.
The government’s announcement follows several major system failures, which saw significant pick-up, both in traditional and social media, leaving many unable to use their debit cards, or even make payments. But what is the core underlining issue? As digital banks look to go toe-to-toe with the new fintech start-ups, they’re overlooking the resilience required in order to meet the threats of operating in the financial market – and ultimately it is affecting the consumer.