payments
Financial Services
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Nov 14, 2022
Six years after an exercise flagged the risks of a “prolonged technical outage” in the core settlement engine of the Bank of England, efforts to “seek to understand and mitigate legal barriers” to one proposed mitigation are unfinished – although progress on a core hardware and software replacement continues to make
The UK’s Department for Work and Pensions (DWP) is seeking a provider of emergency payment infrastructure to help make sure it can continue making 2.5 million payments daily worth some £3.7 billion per week. The new infrastructure should ensure it can continue making the payments to a