> The notification process was some janky thing involving text files, cron and sftp and frequently failed. Sometimes it didn't work at all (which Synapse would spot) but sometimes it just omitted loads of transaction records.

What the hell…

I’d seriously question the bank that thought that was ok.

When I worked with big banks long ago that kind of thing would be shocking.

Really?

Definitely heard people in the banking area talk about how you just take money from other peoples accounts and if that person disputes it their bank then uploads a file over FTP and if a file never shows up then your bank should assume (but not know) the transfer is valid.

Too bad the link rotted: https://news.ycombinator.com/item?id=7636066