Operational Resilience in Digital Payments: Experiences and Issues

By Tanai Khiaonarong, Harry Leinonen, Ryan Rizaldy

December 10, 2021

Preview Citation

Format: Chicago

Tanai Khiaonarong, Harry Leinonen, and Ryan Rizaldy. Operational Resilience in Digital Payments: Experiences and Issues, (USA: International Monetary Fund, 2021) accessed December 3, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Major operational incidents in payment systems suggest the need to improve their resiliency. Meanwhile, as payment infrastructures become more digitalized, integrated, and interdependent, they require an even higher degree of resilience. Moreover, risks that could trigger major disruptions have become more acute given the rise in power outages, cyber incidents, and natural disasters. International experiences suggest the need to strengthen reliability objectives, redundancies, assessment of critical service providers, endpoint security, and alternative arrangements

Subject: Cyber risk, Environment, Financial markets, Financial regulation and supervision, Infrastructure, National accounts, Natural disasters, Operational risk, Payment systems, Technology

Keywords: Business continuity, Business continuity arrangement, Cyber risk, Disasters, Disruption scenario, Global, Infrastructure, Natural disasters, Operational resilience, Operational risk, Payment infrastructure, Payment systems, Payment systems, Payments experience, Risks, Tandem payment processing design

Publication Details

Pages:

39
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2021/288
Stock No:

WPIEA2021288
ISBN:

9781616355913
ISSN:

1018-5941

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