RBS admit they haven't invested in IT systems for decades

3 December 2013

RBS With the regularity of IT failures, many wondered what RBS Group's problem was. Where they being hacked? Was it just bad luck? According to Royal Bank of Scotland boss Ross McEwan, turns out it was the fact that the company had failed to invest properly in systems for decades, which resulted in everyone being locked out of their accounts yesterday.

McEwan said: "Last night's systems failure was unacceptable. Yesterday was a busy shopping day and far too many of our customers were let down, unable to make purchases and withdraw cash."

"For decades, RBS failed to invest properly in its systems. We need to put our customers' needs at the centre of all we do. It will take time, but we are investing heavily in building IT systems our customers can rely on."

"I'm sorry for the inconvenience we caused our customers. We know we have to do better. I will be outlining plans in the New Year for making RBS the bank that our customers and the UK need it to be. This will include an outline of where we intend to invest for the future."

Systems have now returned to normal. However, the group still don't know what caused the glitch so it might be worth drawing out £50 and sticking it in a drawer in case this happens again.

TOPICS:   Banking   Not The Onion


  • Ullevi83
    Hmm something doesn't ring true here, I know of several IT Contractors that have been working for the banks for nigh on 10 years and picking up £50 an hour for their troubles. So talk of lack of investment isn't true, could it be they are just unsure of how to change things for the better? Don't even mention the system integration of ABN Amro (remember that takeover?) and RBS.....disaster isn't the word, the word on the street was millions of pounds down the pan after it was deemed a complete waste of time and money.
  • Tits M.
    Banks have some of the most complex computer systems in place in the world - replacing something would be an absolute nightmare. Whilst the servers they run on might be top of the range hardware wise, its the legacy software that still has chunks of code from the 80's causing problems. Software written today, often in different languages to back then need to be backward compatible, with whatever limitations were set back then. Its a nightmare, and no amount of money would tempt me in to that field. Bad enough writing stuff for the MoD.
  • Ullevi83
    Totally agree Tits McGee, the conversion would be horrible. It's basically a start from scratch job!
  • Captain.Cretin
    Plenty of XP Pro systems on display at my local HSBC.
  • Tim
    Loosely translated "We fucked up, we're blaming old IT because it sounds expensive, so we can justify increased charges to 'modernise' it all"

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