BPI lays down measures to prevent repeat of glitch


Posted at Jun 21 2017 02:36 PM

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MANILA - Bank of the Philippine Islands (BPI) on Wednesday explained steps it has taken to prevent a repeat of the glitch that paralyzed its electronic systems for two days earlier this month.

BPI Executive Vice President Ramon Jocson told lawmakers in a Senate hearing that the bank has installed a "circuit breaker" that would halt the procedure and verify if the intent was to process when it involves more than 1 million transactions in one run.​​

He also said the bank placed "more restore points" that would allow faster recovery from such a glitch. The bank would also move the "reconciliation" time of their books to 4:00 AM from the current 8:00 AM, just an hour before its branches open.

This would give time for the bank to fix a glitch before business day begins.