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A comment on Nubank acquires Cognitect. Parent comment

Re:Nubank acquires Cognitect by dig1 on Thursday July 23, 2020 @09:59AM (#23927424)
Mainly because of the problem space. Banking/finance is a complex field with many moving parts: card processing, validation, encryption, currency exchange and tons of certification stuff (I believe Nubank's primary focus is card processing). Didn't even touch other financial fields like investing, credit handling, or any kind of trading.

The software is always expected to be correct, never fail and fast. Otherwise, someone will lose the money, and usually, you (bank or institution) will have to recoup that, plus penalties, plus name damage.

Source: worked there.

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Re:Nubank acquires Cognitect by darthrupert on Thursday July 23, 2020 @01:12PM (#23929603)
Doesn’t banking actually use double accounting to ensure not losing money instead of relying on something as brittle as software?

Then again, Wirecard happened. But perhaps that wasn’t exactly banking.

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