Although many of us bank operations professionals are intimately involved in the day-to-day operations and functioning op payment systems, we tend to loose the true magnitude of what we are dealing with in the "system" with its "technology only" connotation. This is often compounded by an "on-us" view of our bank and our operations.
This view can cloud our thinking when planning for such critical issues as disaster recovery and business continuity. What is often overlooked is the big picture and how it all hangs together.
The events and aftermath of 9/11 clearly illustrated the problem. This is the subject of this short presentation are the events of that day, its impact on the financial system generally (and payment systems more specifically), the lessons learned and what we should be taking forward in our approach to Business Continuity Planning as regards Payment Systems.
The presentation was originally made by Stanley Epstein, one of our Principal Associates, to the Financial Services Technology Consortium in New York on 18 December 2008.
