Contingency Plans

We have a dedicated staff of expert systems and operations specialists that maintain multiple computer systems at our three data centers. We can switch from primary to back up within 5 minutes with NO LOSS of payments or data. How? With high speed, dedicated fiber optic communications lines linking all the sites together.

What does this mean for you?

• Security
• Confidence that you are using the best payments system in the business
• Reduction in operational risk

We are constantly evaluating the needs of our customers and developing the safest plans for the transactions we process. Since both CHIPS and The Federal Reserve’s Fedwire process payments with immediate finality, CHIPS can serve as a backup to Fedwire in the event of an emergency. While this gives our customers a contingency capability, the interoperability of the two systems promotes a healthy and competitive marketplace.

While the resiliency of the CHIPS system has never been stronger, in light of heightened security concerns facing every business today, management decided to establish a third data site. This additional site operates as CHIPS' third hot backup site, fully mirroring all transactions that are processed at the primary data center. This ensures that even if the primary and secondary sites become unusable, the third site is capable of carrying out the rest of the days transactions and operate as the main data center until operations are restored in the primary or secondary contingency center.