We joined 15 senior IT executives from leading Financial Services organizations at an exclusive dinner arranged by the Chief Wine Officer.
International Finance Magazine: The importance of unified visibility to reduce the risk of IT outages
Between January and October 2018, the Financial Conduct Authority reported a 138% rise in technological failures, and in Q2 2018 alone Britain's five largest banks: HSBC, Santander, RBS, Barclays and Lloyds Banking Group, reported that they had suffered 64 payment outages. Examples of IT failures such as the Lloyds Banking Group outage in January this year, and the TSB incident in 2018, where 1.9 million customers were locked out of their accounts for days. This only emphasises that despite increased investment in digital solutions, underperforming technology and a lack of visibility across the entire IT infrastructure is a significant industry problem. These incidents, no matter how small, can cause extensive damage to businesses and thus, more must be done to ensure that organisations are implementing strategies to futureproof themselves against this type of threat