Yeah, it used to be scored that way - three judges had to click the blue or red button within some fraction of a second of each other for the punch to score.
Now there are five judges, and the highest and lowest scores are dropped at the end of each round, then an average is calculated from the remaining three judges' scores. The BBC had some silly article suggesting that the change in the scoring system means the level of transparency has dropped, despite the fact that the new system is designed to weed out potentially biased judges and that instantaneous display of scoring is impossible with the new system.