NAB blames data centre for internet, phone-banking outage


Multi-cloud approach

Mr Day said NAB’s multi-cloud approach – which will run data services from public clouds operated by Amazon Web Services and Microsoft Azure – would “mitigate risk and help deliver the best capabilities and innovations to our customers and for our business”.

NAB’s outage comes amid increased scrutiny of technological failures at retail banks.

In September, Australian Prudential and Regulation Authority chairman Wayne Byres criticised the banks for “persistent underinvestment” in information technology.

Reserve Bank of Australia governor Philip Lowe also warned in November that “continued effort needs to be made by all participants in the payment system to reduce operational problems”.

APRA chairman Wayne Byres has previously warned retail banks for underinvestment in information technology. Ryan Stuart

“If this does not happen, then it is possible that the Payments System Board could consider setting some standards,” he said.

NAB may face regulatory scrutiny after revelations it paid $7.4 million in compensation for a bank-wide payments system outage last May.

APRA declined to comment on NAB’s specific case but referred to its previous statements.



Source link Finance News Australia

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