Chris Skinner's blog

Shaping the future of finance

It’s SIBOS, so let’s have a pandemic and close the bank

Chris Skinner Author Avatar
by

We talk about pandemics as a result of bird flu and other concerns. 

Luckily,
we haven't had one yet but, you never know.  After all, looking around
the fellow inhabitants of the world's subway systems, H G Wells had it
right when he referred to morlocks living underground and who knows
what you might catch off them. 

Just in case therefore, the
world's largest institutions are testing a pandemic across the USA in
September.  The exercise runs from 24th September through 12th October and involves almost 2,500 US financial firms.

Although
it's all fictitious, the idea is that you start with your full staff
quota but they rapidly drop down like dead flies until you're left with
the few superhumans who are immune.  Either that, or the last one to
leave the building turns out the lights.

Last year, the FSA tried
the same thing over here in old blighty.  All was well to begin with,
as 17 out of 20 staff turned up for work until the end of the
simulation with only 2 out of 5 available.  Branches were closed and BT
had to make lots of mugs of cocoa and tea to keep the infrastructures
running and the cable guys hot.

Read the whole results of the FSA's experience here (six page pdf).

Meantime, I have one concern.

The USA is running this pandemic through end of September to mid-October.  When and where is SIBOS this year?  Mmmm ... good timing.

PaymentsCategories
Chris Skinner Author Avatar

Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...

Intelligent Money: Our Future Is Where We Do Not Think About Money, As Our Money Thinks For Us

What is the future?

Learn more

Learn more about Chris

About Chris Skinner

The Past, Present And Future Of Banking, Finance And Technology

Fintech expert Chris Skinner: countries need digital transformation to remain competitive

Join me on Linkedin

Follow Me on X!

Hire Chris Skinner for dinners, workshops and more

Learn directly from from one of the most influential people in technology, gain insights from the world's most innovative companies, and build a global network.

Chris’s latest book

Order now

Chris Skinner’s ‘Intelligent Money’ Book Launch Event

Top 50 Global Thought Leaders and Influencers on Finance 2024

Global Awards

Lifetime Achievement Award

Global 100 - 2024 Winner

Chris Skinner - Financial Markets Advisor of the Year - The Finanser - UK 2023

Best Financial Markets Advisor of the Year 2023

30 Best Regtech Blogs and Websites 2023

Kids creating the future bank | TEDxAthens

Captain Cake and the Candy Crew

Captain Cake Winner of a Golden Mom’s Choice Award

TWO-TIME WINNER OF A MOM’S CHOICE GOLD AWARD!

Alex at the Financial Services

Gaping Void's Hugh MacLeod worked with the Finanser