Article 23: Information Technology (IT) and Operational Requirements

Effective from 2019-02-20 - May 02 2019
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The technology implemented by the Bank for Agent Banking must comply with the industry standard technology in terms of hardware and software. At a minimum, the Bank must ensure that:
a.	The Bank has an automatic system that is suitable for Agent Banking and that provides services stipulated in the contract with the required quality, security and speed.
b.	The technology deployed comprises a set of interoperable infrastructure modules that work seamlessly and harmoniously. There must be an end- to-end connection from the Bank to the banking Agent.
c.	Payment orders are instantly executed. In the event of failure of communication during a transaction, the transaction must be reversed.
d.	An audit trail is maintained and made available on request.
e.	All settlement information details are preserved.
f.	The Bank puts in place adequate measures to mitigate all the risks that could arise from the deployment and use of its Agent Banking IT infrastructure.
g.	The Agent Banking IT infrastructure must be, at a minimum, as follows:
	1.	Be able to support real time, electronic processing of transactions executed;
	2.	Be able to provide a secured network, including end-to-end encryption;
	3.	Be able to support Agent Banking services; and
4.	At the end point, devices should not store sensitive Customer information, e.g. PIN, passwords, fingerprints, etc.
h.	At a minimum, two-factor authentication is required for Agent and Customer registration.
i.	Transaction information is transmitted in a secure manner.
j.	There is an advanced and secure technological infrastructure.
k.	A secured network, including end-to-end encryption, is provided.