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Osko crash blamed on RBA
13 October 2022
A major outage of online fast inter-bank transfer system Osko has left payments in limbo, with the Reserve Bank admitting fault.
The payment service allows customers to send money online almost immediately and is used by 85 Australian banks.
The outage started around 11:00pm AEDT on Wednesday night and was resolved this morning, however there are still delays in processing some payments.
The RBA experienced an internal system engineering issue yesterday evening. The issue has been contained. Impacted external services are now operational however there has been some delay to overnight processing of payments.
— Reserve Bank of Australia (@RBAInfo) October 12, 2022
In a statement, the RBA admitted fault for the outage.
“The RBA experienced an internal system engineering issue yesterday evening,” the statement noted.
Osko was launched in 2018, after being developed through a partnership between the Reserve Bank of Australia (RBA), banks and BPAY.
Osko customers took to social media to vent their frustrations.
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