RBS’s Tech Wake-up Call to Banks

By Emma Dunkley

The front page of London's Financial Times reports on an embarrassing glitch in Royal Bank of Scotland's IT system, which stalled payment transactions of some 600,000 customers. Dmitry Bagrov, Managing Director of DataArt UK, commented for the story.

“RBS said previously that it would spend an extra £750m over a three-year period on top of its annual £2bn investment to bolster the “security and resilience” of its IT systems.

Dmitry Bagrov, of global technology consultancy DataArt UK, said the recurring issue “should be considered a serious problem”.

“We’re looking at a major bank which has problems in technology. It’s bad for the taxpayer, as the
state will not get the price that it wants.”

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