What Lloyd's are doing is functionally equivalent to ....
Royal Bank of Scotland (RBS) got rid of 1500 experienced people, and replaced with 750 hired guns from the subcontinent... who turned out to be not as gifted as those who were shown to RBS before the contract was signed (surprise surprise).
These guys fucked up an update to the batch scheduler software, and fucked up restarting the batch schedule, which left RBS without any functioning banking apps nor any valid databases.
Over the weeks of disruption, the FCA said customers could not:
- Use online banking facilities to access their accounts
- Obtain accurate account balances from ATMs
- Make timely mortgage payments
- Access cash in foreign countries
In addition, the banks applied incorrect credit and debit interest to customers' accounts, and produced inaccurate bank statements.
It took more than four months to completely restore all the function for all customers.