FNB says it has resolved EFT payment problems

Nedbank suffered the same problems two or three days ago. I made a Pay and Clear payment, and instead of an hour, it took a whole day to process. I think somewhere all banks are using the same system and suffered the same problems.
 
What would our ISPs say, oh yeah "Best effort".

FNB should add a clause on their offerings, "We sell our banking services as a best effort solution"
 
Made an EFT to standard bank from FNB on Sunday. I knew it would be delayed because Monday was a holiday, but did it anyway, expecting it would clear Tuesday midnight, latest Wednesday.

Sitting on Friday afternoon and it still hasn't cleared. Next time I'll send a cheque by pigeon, signed with a quiver.

.
 
All that money sitting in suspense accounts, generating interest for the bank, before being handed over to the recipient bank. Motive enough there to hold on to that money as long as possible.
 
Happy Days said:
All that money sitting in suspense accounts, generating interest for the bank, before being handed over to the recipient bank. Motive enough there to hold on to that money as long as possible.
Click to expand...
Your eBucks money thats generated there:ROFL:
 
So… Other than talking to Mybroadband, FNB hasn’t publicly reported this issue anywhere else?
 
Why must people have to wait for days for their monies to clear in 2021... Boggles the mind...
 
Personally I believe that corporate responsibility is at a all-time low. All FNB has to do is to communicate, but they choose not to and rather approach this on a case by case basis meaning that they only answer to queries. In the case Mybroadband didn't ask, I probably would still not have had a clue what could be possibly wrong. I don't have a good relationship with FNB customer service

This is cold service...
 
deweyzeph said:
I find that hard to believe. They would literally need to have hundreds of thousands of employees just dedicated to the task.
Click to expand...
Why do you think they have close to 50 000 employees?

They are using batch processing, run by monolithic applications on mainframes - which can't scale, built by teams operating in silos, and by people whose primary focus is their own job security.

Things are going wrong all the time in the bank (in terms of their software) and they have to find Frikkie to fix the issues and manually push the batches through.
 
zulucat said:
Why must people have to wait for days for their monies to clear in 2021... Boggles the mind...
Click to expand...
There are a few reasons.

1. Banks are profiting from RTC (realtime transactions) ~ R45 per transaction for most banks
2. PASA and the Reserve Bank have done nothing (in terms of the regulations) to fix the situation
3. Clearing and Settling transactions is a technically complex dance between the participating banks, BankservAfrica and the Reserve Bank.
 
Napalm2880 said:
Why do you think they have close to 50 000 employees?

They are using batch processing, run by monolithic applications on mainframes - which can't scale, built by teams operating in silos, and by people whose primary focus is their own job security.

Things are going wrong all the time in the bank (in terms of their software) and they have to find Frikkie to fix the issues and manually push the batches through.
Click to expand...
Just seems like FNB is especially bad at this.

Probably because they made their workforce too lean and guys are overworked?
 
PaulMurkin said:
They are truly automated.
The problem is the transaction volumes are so high, even 64GB of RAM and 16 core CPUs are not enough on a server, on payday.

The systems buckle under pressure. That is the problem. It affects ALL the banks to differing degrees.
Click to expand...
So why don't they move their systems into the cloud, with its automatic scaling? I doubt they could take down all of Microsoft Azure or AWS, even on payday ;P
 
Foxhound5366 said:
So why don't they move their systems into the cloud, with its automatic scaling? I doubt they could take down all of Microsoft Azure or AWS, even on payday ;P
Click to expand...
Exactly what some banks did quite a while ago already. System reliability greatly improved.
 
PaulMurkin said:
They are truly automated.
The problem is the transaction volumes are so high, even 64GB of RAM and 16 core CPUs are not enough on a server, on payday.

The systems buckle under pressure. That is the problem. It affects ALL the banks to differing degrees.
Click to expand...
What utter nonsense....
 
Louis72 said:
Exactly what some banks did quite a while ago already. System reliability greatly improved.
Click to expand...
Surely that's the solution. I mean automatic scaling is a principle you just can't argue with. Need 1 server? You got it. Need 10 000 servers that are 100 times more powerful? You got it.

Anyone who thinks "We need it on our servers because we can do it more securely than AWS or Microsoft can", is surely part of the problem?
 
Foxhound5366 said:
Surely that's the solution. I mean automatic scaling is a principle you just can't argue with. Need 1 server? You got it. Need 10 000 servers that are 100 times more powerful? You got it.

Anyone who thinks "We need it on our servers because we can do it more securely than AWS or Microsoft can", is surely part of the problem?
Click to expand...
techcentral.co.za

Nedbank moves its IT into the cloud with Microsoft deal

Nedbank has partnered with Microsoft to migrate components of its IT infrastructure into the cloud, the financial services company said on Monday.
techcentral.co.za techcentral.co.za

Customer Success Stories

Learn how organizations of all sizes use AWS to increase agility, lower costs, and accelerate innovation in the cloud.
aws.amazon.com aws.amazon.com
 
Louis72 said:
techcentral.co.za

Nedbank moves its IT into the cloud with Microsoft deal

Nedbank has partnered with Microsoft to migrate components of its IT infrastructure into the cloud, the financial services company said on Monday.
techcentral.co.za techcentral.co.za

Customer Success Stories

Learn how organizations of all sizes use AWS to increase agility, lower costs, and accelerate innovation in the cloud.
aws.amazon.com aws.amazon.com
Click to expand...
Fascinating ... I wouldn't have pegged Absa, Nedbank and Standard Bank (also mentioned in your first article) as the most advanced banks in the country. Why's FNB lagging in this absolutely critical area?
 
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