The opening of the new center is a key milestone in Visa’s multi-year technology upgrade, that results in Visa now having two synchronized, secure and reliable data centers in North America, each capable of carrying Visa’s entire global payments volume in the event of a natural disaster or systems outage. Instant fail-over technology between Visa data centers around the globe ensures the 5-nine level of uninterrupted service that cardholders, merchants, governments and financial institutions have come to expect from Visa.
"Most of the imports in financial institutions haven't done that well," observed one leading banker.
Bloomberg's campaign published a financial reform plan Tuesday, advocating for greater consumer protection measures and a stronger financial system. Specifically, the proposal suggests requiring financial institutions to monitor risk exposure, recording all financial transactions in a centralized database, strengthening the Consumer Financial Protection Bureau and a number of other recommendations. The proposal also recommends creating a regulatory sandbox for startups and "providing a clear regulatory framework for cryptocurrencies."