Oireachtas Joint and Select Committees
Thursday, 5 December 2019
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Central Bank: Discussion
Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source
I turn to investment by banks in technology. There have been a number of outages or glitches in bank systems in recent months, and they have happened frequently in recent years. It causes severe disruption to the system and to individual consumers, and there can be reputational damage to the banks and the system. It can also have an economic impact, depending on how long it lasts. Do the banks invest enough money in their systems and technology to prevent such scenarios from recurring?
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