On Jun 28, 2012, at 4:00 PM, Anne & Lynn Wheeler wrote:
ibm services has been outsourcing such processing for some number of
financial institutions ... there is folklore about trade-off between
having processing to always be under the limit where fine is applied
... versus cost savings on not enough processing for always handling
load spikes (offset by the sporadic fines; periodic claims that late
processing fines would wipe out any profit on the outsourcing
contract)
Lynn:
While this isn't about deposits/checks per se when I used to work at
a bank (albeit a long time ago) We had to shutdown the ATM's for one
hour every fall and incurred the fines to do so as we could not trust
the online application that was using a time stamp for purposes that
we couldn't control. I do not recall if it was CICS or a ryo system
but the time stamps were critical.
Ed
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