Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the e-Panel discussions:
- Mr. Brahma Mahesh Khaderbad, Co-Founder & CEO at FinMomenta Pvt Ltd
- Mr. Yeshovantha Reddy, Enterprise Sales – Ingenico Epayments
- Mr. Rana Sinha Ray, Head Technology, TimesofMoney
- Mr. Sharad Goklani, CTO at Equitas Small Finance Bank
- Mr. Charudutta Panchmatia, Sr Vice President at HDFC Bank Ltd
- Mr. Avro Mukerji, Investment Counselor- NRI Burgundy, Axis Bank
- Mr. Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous
FIAKS community member shares the following headline about Zerodha’s online trading platform Kite crash:
On Thursday Zerodha’s online trading platform Kite crashed for about 25 minutes between 9:55 am and 10:20 am due to a technical glitch, resulting in many users not being able to place orders through the platform. Users and investors took to Twitter in large numbers to express their concerns because this is not the first time such a situation has risen. Users said they’ve experienced similar technical issues in the past during event days with heavy traffic. [1]
Now, this raises a question before e-brokers or digital banks, What’s the alternative that they must provide in case tech is down?
Technology has almost become like electricity, water, or any other essential service. Basically, one should essentially understand that 100% uptime is not possible so platforms generally have regular maintenance in non-trading hours. For instance, there really isn’t an alternative for the customer if the ATM doesn’t work at midnight or if a person misses a bill payment date due to delayed settlements for whatever reason. Also, in 2014, Flipkart’s website also crashed at times due to heavy traffic and some customers saw their orders being canceled due to unavailability of products.[2]. These are some instances which are obvious real-time possibilities of technical errors.
Is there really any alternative available in case of any tech glitch? Register and Read the complete Discussions