Reuters – by STEVE SLATER AND AASHIKA JAIN
(Reuters) – Royal Bank of Scotland has neglected its technology for decades, the state-backed bank’s boss admitted on Tuesday after a system crash left more than 1 million customers unable to withdraw cash or pay for goods.
The problem for three hours on Monday, one of the busiest online shopping days of the year, raised questions about the resilience of RBS’s technology, which analysts and banking industry sources regard as outdated and made up of a complex patchwork of systems after dozens of acquisitions. Continue reading “RBS admits decades of IT neglect after systems crash”

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