Archive for October 5th, 2012

More bank processing woes

Friday, October 5th, 2012

Lloyds Group is the latest UK bank to have systems glitches leaving customers in the lurch.

I do have sympathy – the level of complexity in bank systems these days combined with the amount of security needed, makes occasional errors inevitable. Trouble is, a minor glitch can end up resulting in wholesale chaos. Who cleans up the mess?

In a similar incident, RBS had to put on extra staff not only in branches, but also the back office to complete the “mop-up” exercise.

When errors like this happen, clearly there has to be an inquest – what can be learnt to minimise the chances of a repeat? But there also need to be a remediation exercise to cope with the immediate aftermath, and the operational business front and back office usually bears the brunt.

Another great use case for Operational Agility software – let the (software) robots take the strain…