BOT sets banking app downtime at maximum of 8 hours per year

Issues with financial transactions or banking systems, especially disruptions via mobile banking apps still persist although their occurrence has fallen. A recent example was the collapse of the interbank mobile banking system in early July, which hindered money transfers between banks. As mobile banking has become a primary channel for financial transactions, its disruption inevitably impacts a large and diverse user base.

According to the BoT Assistant Governor, Sirithida Phanomwan Na Ayutthaya

who oversees the Payment and Service User Protection Group, discussions have taken place between the BOT, relevant agencies, and financial institutions to find ways to prevent such service disruptions.

In light of the recent disruption to the interbank system, it is expected that further discussions will involve chief information officers from different banks. After two rounds of joint…