Computers crash. The computers of banks crash. It happens all over the world. The writer has been involved in one such crash when, after the code was dumped and inspected, at about the millionth line was the epic reminder phrase: ‘Something important must go here.’ A programmer had put it in as a reminder and then forgotten about it.

Banks strain the limits of IT and a rough rule of thumb is that the average utilization rate of host computers should not exceed 60%. The figure on the business systems at five major commercial banks in China stands at 67%.

When the Olympics open on August 8 there will be a surge of foreign visitors and they will be using their credit cards.

Beijing is expected to have 800,000 visitors from abroad and 900,000 domestic tourists during the Olympics. The city government has announced plans to install point of sale (POS) terminals at 90% of the retail outlets at or near the Olympic venues by the end of June.

Which could easily lead to a melt down.

Guo Ligen, vice-chairman of the China Banking Regulatory Commission (CBRC), in a statement on the commission’s website warned that a combined surge in card use and stock trading could overload the country’s electronic payments system. He Guo urged banks to have trial runs, beef up equipment and expand the operating capacity of their IT systems. He announced that the CBRC would inspect major banks’ IT systems between February and July.

Guo Ligen said, ‘We can’t bring the problems to the Olympics and spread hazards outside the banking industry.’
Source: Window of China