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Good article. I'd like more technical details, especially security related, as some pretty hard problems must have been solved to implement such system where ev
by kbart 11y ago
Good article. I'd like more technical details, especially security related, as some pretty hard problems must have been solved to implement such system where every error or vulnerability might costs tons of money. Any recommendations?
- simonvc 11y agoDisclaimer: I work at Mondo and am the one implementing the way we talk to our agency bank. How it actually works is theres a Message Queue (IBM MQ) that is connected over dedicated lines (MPLS or point to point, but not over the internet). Each side uses a couple of layers of Crypto, including using Hardware Security Modules (HSMs) to actually encrypt and sign the messages. The crypto signatures also have legal standing in a sense, if the message is valid and signed then the counter party or agency bank is authorised to process it.
- ryanjshaw 11y agoBanks are full of great lessons in system design that extend past the realm of purely technical solutions. They regularly make cost vs. risk trade-offs that make technical people nervous, for example, straight-through processing of low value payments with the expectation that material fraud can be detected through regular analysis/reconciliation/auditing and dealt with out of band.
- kbart 11y agoIt sounds that you have a very interesting job. Mind if I ask few questions/career advice? If so, please drop me an email (can be found on my profile).