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That's a pretty unexpected twist, and I'm frilled with it. I don't see every institution come up with a fix anytime soon, but having it clear that they're brea
by makeitdouble 3y ago
That's a pretty unexpected twist, and I'm frilled with it.
I don't see every institution come up with a fix anytime soon, but having it clear that they're breaking the law is such a huge step. That will also have a huge impact on bank system development, and I wonder how they'll do it (extend the current system to have the customer facing bits rewritten, or just redo it all from top to bottom)
There is the tale of Mizuho bank [0], botching their system upgrade project so hard they were still seeing widespread failures after a decade into it.
[0] https://www.japantimes.co.jp/news/2022/02/11/business/mizuho-banking-failure/ https://www.japantimes.co.jp/news/2022/02/11/business/mizuho...
- ryandrake 3y ago> I don't see every institution come up with a fix anytime soon, but having it clear that they're breaking the law is such a huge step. It's excellent, but also sad that it takes legislation to motivate companies to fix their crappy legacy systems, and they will likely fight tooth and nail rather than comply.