RBS Banking Glitch Blamed on 'Inexperienced Operative' in India
So, after the banking catastrophe that has hit NatWest, RBS and Ulster Bank customers, it seems the software fault that caused the problem, can be traced to an "inexperienced operative" who accidentally wiped information during a routine software upgrade. The member of staff, who was working on the programme, is believed to have been based in Hyderabad, India.
It is believed RBS is now considering whether to take action against CA Technologies after the crippling computer glitch on June 19 which could cost it hundreds of millions of pounds in compensation. The software arm of business had been outsourced to India. Which was controversially part of the 300,000 job cuts which were employed throughout the bank and attracted widespread condemnation from unions.
When chief executive Stephen Hester was questioned about the software glitch occurring in India, he said: " I have no evidence of that. The IT centre - our main centre [is] nothing to do with overseas. Our UK backbone has seen substantial investment.".
Umm,well ,this is certainly a story that will run for a while yet, as the bank has committed to reimbursing all customers who have incurred financial loss as a result of this error. With pay outs set to run into millions of pounds.
Written and Presented by Ann Salter