Standard Bank explained what caused its major outage on Saturday.
on Saturday, 21 May 2022, due to a component failure that resulted in its engineers rebuilding the system’s architecture.
Standard Bank chief engineering officer Khomotso Molabe said the component that handles inbound and outbound transactions — the “generic switch” — had failed at around 07:30 on Saturday. He also said that the bank could not guarantee that a similar outage won’t happen again but explained that Standard Bank had improved its monitoring measures to reduce the frequency of such events.Fuzile said the outage on Saturday affected ATMs and point-of-sale devices, which were inaccessible to most of its customers for the duration of the downtime. The system was restored at around 14:45.
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