Hyderabad-based Indian IT support team behind UK's Natwest bank meltdown?

   Jun 26, 10:47 am

London, June 26 (ANI): A flawed computer programme of the UK bank Natwest, which was being supervised by an IT support team in India, was behind the chaos for thousands of Royal Bank of Scotland (RBS) customers after it encountered a problem in its transaction processing software.

The banking giant was urgently seeking computer graduates with several years experience of using CA-7, the programme which the bank uses to run its vast network of transactions and accounts.

The RBS had reportedly advertised for a series of key jobs at the bank, paying between 9,000 to 11,000 pounds a year, in the Indian city of Hyderabad , which is way below what an equivalent worker is normally paid in Britain.

The job advertisement read: 'Looking for candidates having 4-7 years of experience in Batch Administration using CA-7 tool. Urgent requirement by RBS.'

According to the Daily Mail, the technology website 'The Register' claimed that the transaction software, CA-7, needed to be updated, and the Indian staff who were employed by the bank, needed to oversee the software, round the clock to solve any faults.

Problems began on Tuesday night when the CA-7 was being updated, when some crucial files were deleted in the process. While the bank authorities spotted the error, but the same technical snag was repeated on Wednesday and again on Thursday.

It was only on Friday morning when the bank staff realised the full scale of the crisis, were urgent calls made to the Indian IT staff and troubleshooters were drafted in.

The problem was that every single transaction that was waiting in the queue had to be reprocessed in strict order of arrival, causing further delays over last weekend.

However, the RBS has consistently denied that the decision to relocate jobs to India has made any difference to its handling of the situation, and denied that its controversial job out-sourcing programme has been responsible for the transaction processing fiasco.

It merely claimed that the 'software error occurred on a UK-based piece of software', but declined to clarify where the staff overseeing the software were based.

Computer Associates, which owns CA-7, declined to comment on what had caused the problem.

The fiasco is believed to be the longest and most widespread problem of its kind since the advent of computer banking. (ANI)

Is Apple either scrapping or renaming 'Beats Music'? Sep 23, 2:03 pm
Washington, Sep 23 (ANI): New reports suggest that Apple may scrap the 10 dollars-a-month subscription streaming music service 'Beats Music'.
Full Story
Bangladesh, Malaysia ink two MoUs for building mega power plant Sep 23, 12:27 pm
Dhaka, Sept.23 (ANI): Bangladesh and Malaysia have inked two memoranda of understanding to build a 1,320-megawatt coal-based power plant in Maheshkhali at an initially estimated cost of around USD two billion.
Full Story
India, Bangladesh border trade to increase manifold by 2017 Sep 23, 9:42 am
Agartala, Sept 23 (ANI): The border trade between India and Bangladesh through Tripura is expected to touch Rs 500 crore in the next two to three years, said a top official of the state industry.
Full Story
Chinese companies feel trade barriers hampering business ties in India Sep 22, 3:34 pm
Beijing, Sep 22 (ANI): Chinese companies say that concerns regarding security and suspicion continue to hamper their business ties in India.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY