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Daniel Mayo, practice leader, financial services technology, Ovum, has given his thoughts on the news that the FSA has sent a letter to nine of the largest banks in the continued fallout from the RBS ‘IT glitch’.
The FSA letter included:
· Demands that each bank submit a written account of what had been done to “to ensure the overall resilience of critical infrastructure and banking processes”
· The contingency plans that were in place to restore service “within an acceptable timeframe” if a failure did occur
· The names of senior managers who could be held personally responsible if information technology systems go awry
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