[News] TSB.........Again

[Beach Hut]

https://www.bbc.co.uk/news/business-50514707

Looks like another catastrophic IT error, not good

 

[Weststander]

I expected this to be a thread about the serial NSC misery, telling us we’re going down.

 

[WATFORD zero]

https://www.bbc.co.uk/news/business-50514707

Looks like another catastrophic IT error, not good

Telling sentence, and looks like nothing has changed from when I worked for a couple of the banks, albeit 25+ years ago

An independent report into the incident said the bank's board lacked "common sense" as it prepared to switch customers on to a new IT system

There was always this idea that Technology was 'magical', they didn't understand it, and the basic rules of common sense therefor didn't apply

 

[Milano]

I work in IT in a very large bank.
Since 2008 their ‘profits’ have been achieved by slashing costs. The problem is that all modern banks are 100% reliant on IT now, their systems are VERY complex, so cutting skilled staff to the bone is eventually going to result in this type of situation, or as is now more common offshoring 25+ years of experience to India to a body who has completed IT 101 is a disaster waiting to happen. It will get worse.

 

[Stat Brother]

I expected this to be a thread about the serial NSC misery, telling us we’re going down.

That'll be tomorrow evening.
It'll be nice to get some input from Spence, as well.

 

[Cowfold Seagull]

I expected this to be a thread about the serial NSC misery, telling us we’re going down.

Me too, although l do have to admit to quite enjoying most of his posts over the years.

 

[Justice]

Me too, although l do have to admit to quite enjoying most of his posts over the years.

 

[Weststander]

Me too, although l do have to admit to quite enjoying most of his posts over the years.

The same for me with Spence. The doom and gloom, sometimes even after a win!, is like a form of black humour.

 

[Postman Pat]

I work in IT in a very large bank.
Since 2008 their ‘profits’ have been achieved by slashing costs. The problem is that all modern banks are 100% reliant on IT now, their systems are VERY complex, so cutting skilled staff to the bone is eventually going to result in this type of situation, or as is now more common offshoring 25+ years of experience to India to a body who has completed IT 101 is a disaster waiting to happen. It will get worse.

I work in an IT Company that deal with a lot of airlines. What is very clear with most of these companies is that they don't understand their own organisation.

They are no longer banks/airlines with an IT Department, they are IT Companies that happen to run a bank or fly planes etc..

Technology is at the heart of everything now and if these organisations don't have robust systems or are able to protect customer information they will soon go to the wall.

 

[Cowfold Seagull]

I work in an IT Company that deal with a lot of airlines. What is very clear with most of these companies is that they don't understand their own organisation.

They are no longer banks/airlines with an IT Department, they are IT Companies that happen to run a bank or fly planes etc..

Technology is at the heart of everything now and if these organisations don't have robust systems or are able to protect customer information they will soon go to the wall.

You are quite right of course. but the dinosaur within me, finds that all very depressing.

 

[Tom Hark Preston Park]

https://www.bbc.co.uk/news/business-50514707

Looks like another catastrophic IT error, not good

'TSB's new chief executive Debbie Crosbie is putting the finishing touches to TSB's new strategy, expected to be announced on Monday.

The last thing she wants is an ongoing IT problem that reminds people of a difficult recent past when she hopes to talk about the bank's future.'

And all this just 48 hours after an independent report accused the TSB board of 'lacking common sense' after last year's major meltdown

 

[hampshirebrightonboy]

I work in an IT Company that deal with a lot of airlines. What is very clear with most of these companies is that they don't understand their own organisation.

They are no longer banks/airlines with an IT Department, they are IT Companies that happen to run a bank or fly planes etc..

Technology is at the heart of everything now and if these organisations don't have robust systems or are able to protect customer information they will soon go to the wall.

So true. Top bosses have not got a clue

 

[Raleigh Chopper]

Let's get this straight.
I really hate banks.
The service is awful, you can't complain, 8 tills with 3 tellers and then someone comes up to you to see if they can help ( yes, get on a till) queue out the door, closing down multiple branches unnecessarily to cut costs.
I hate internet banking, I don't trust the banks to spend the money to protect my money from clever ******** who can get into my account at the touch of a button.
At least 5 days to clear a cheque in 2019 (they hold on to it with thousands of others to make money) but you can transfer money in seconds and they are very quick to tell you and charge you if you are overdrawn.
They nearly broke this country, the customers bailed them out, yet they still behave like it never happened and are still greedy and only concerned about the profit, never the customer.
Banks really, really make my piss boil.

 

[SeagullDubai]

Let's get this straight.
I really hate banks.
The service is awful, you can't complain, 8 tills with 3 tellers and then someone comes up to you to see if they can help ( yes, get on a till) queue out the door, closing down multiple branches unnecessarily to cut costs.
I hate internet banking, I don't trust the banks to spend the money to protect my money from clever ******** who can get into my account at the touch of a button.
At least 5 days to clear a cheque in 2019 (they hold on to it with thousands of others to make money) but you can transfer money in seconds and they are very quick to tell you and charge you if you are overdrawn.
They nearly broke this country, the customers bailed them out, yet they still behave like it never happened and are still greedy and only concerned about the profit, never the customer.
Banks really, really make my piss boil.

Not to mention the fat cat bonus schemes

Sent from my MI 6 using Tapatalk

 

[spongy]

At least 5 days to clear a cheque in 2019

I bank with Halifax and have found them very good. On their app you can just take a photo of the cheque and it will clear in 2 days.

Doesnt help if you dont do internet banking or embrace technology though.

 

[Westdene Seagull]

Telling sentence, and looks like nothing has changed from when I worked for a couple of the banks, albeit 25+ years ago

An independent report into the incident said the bank's board lacked "common sense" as it prepared to switch customers on to a new IT system

There was always this idea that Technology was 'magical', they didn't understand it, and the basic rules of common sense therefor didn't apply

And for years IT always came under the remit of the Finance Director in many companies. What on earth does a Finance Director know about IT ? I know, we should put Engineering R&D under the HR Director ... yep, that makes sense.

 

[Westdene Seagull]

I work in IT in a very large bank.
Since 2008 their ‘profits’ have been achieved by slashing costs. The problem is that all modern banks are 100% reliant on IT now, their systems are VERY complex, so cutting skilled staff to the bone is eventually going to result in this type of situation, or as is now more common offshoring 25+ years of experience to India to a body who has completed IT 101 is a disaster waiting to happen. It will get worse.

I used to work in IT for Lloyds Bank. In my experience IT policy makers are more concerned at making the user front end look all shiny and new rather than deal with the operational back end systems. The reason is because they are scared to touch them as they have been developed and tweeked over decades with no proper control or documentation. Bad offshoring doesn't help either ( you can get good offshoring but if you give them crap to work with then there is little they can do ).

 

[Cowfold Seagull]

Let's get this straight.
I really hate banks.
The service is awful, you can't complain, 8 tills with 3 tellers and then someone comes up to you to see if they can help ( yes, get on a till) queue out the door, closing down multiple branches unnecessarily to cut costs.
I hate internet banking, I don't trust the banks to spend the money to protect my money from clever ******** who can get into my account at the touch of a button.
At least 5 days to clear a cheque in 2019 (they hold on to it with thousands of others to make money) but you can transfer money in seconds and they are very quick to tell you and charge you if you are overdrawn.
They nearly broke this country, the customers bailed them out, yet they still behave like it never happened and are still greedy and only concerned about the profit, never the customer.
Banks really, really make my piss boil.

Other than that though you quite like them?

 

[Thunder Bolt]

Let's get this straight.
I really hate banks.
The service is awful, you can't complain, 8 tills with 3 tellers and then someone comes up to you to see if they can help ( yes, get on a till) queue out the door, closing down multiple branches unnecessarily to cut costs.
I hate internet banking, I don't trust the banks to spend the money to protect my money from clever ******** who can get into my account at the touch of a button.
At least 5 days to clear a cheque in 2019 (they hold on to it with thousands of others to make money) but you can transfer money in seconds and they are very quick to tell you and charge you if you are overdrawn.
They nearly broke this country, the customers bailed them out, yet they still behave like it never happened and are still greedy and only concerned about the profit, never the customer.
Banks really, really make my piss boil.

Nationwide fought off the carpet baggers and managed to stay as a mutual building society. They haven't closed branches and still offer personal service.

 

[Tom Hark Preston Park]

I used to work in IT for Lloyds Bank. In my experience IT policy makers are more concerned at making the user front end look all shiny and new rather than deal with the operational back end systems. The reason is because they are scared to touch them as they have been developed and tweeked over decades with no proper control or documentation. Bad offshoring doesn't help either ( you can get good offshoring but if you give them crap to work with then there is little they can do ).

I feel sorry for the offshore kids. Most of the ones I worked with were super-smart, super-keen hugely likeable young graduates. But their bosses were often workshy morons promoted to the level of their incompetence. The young kids were also flogged half to death with excessive working hours. Bangalore is 5 hours ahead of UK time. So by the time the UK working day is starting, it's already mid-afternoon offshore. The kids are then expected to be available for the whole uk business day AND 'do the needful' ready for the start of the next uk business day. That's a helluva long shift. No wonder mistakes get made.