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Disclaimer: 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 co
by simonvc 11y ago
Disclaimer: 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).