RBS IT cockup: This sort of thing can destroy a bank, normally


Project Review

At the end of any project / incident I'm asked to do a summary of what went on and what lessons can be learned so here goes:

We lent money we didn't have to people who couldn't pay it back and then sold their debt to people who couldn't pay it and used the money they hadn't paid us to lend to people who couldn't pay.

We realised we had no money and asked the tax man. He was very kind and gave us the money. Lesson learned here, it's ok to mess up if you're big enough.

We then had to think up a way of cutting costs to pay back the tax man so decided to remove all the expensive things like quality, skill, experience and training and then rubbed salt into the wounds of the tax payer by sending all their jobs out of the UK to people who don't speak English as a first language, can't empathise with a customer and have a circa 6 month tenure at best, making it impossible to train or gain experience.

Then a system breaks and no-one can get their money, meaning no-one has any money. And we're back where we were 3 years ago.

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