Irish example of an I.S. Failure

9 Mar

I thought it might be interesting to find an example where an I.S. failure has had an impact in Ireland.

The best example I could find occurred very recently in June of 2012 to Ulster Bank. Ireland’s third largest bank. How a technical glitch triggered by a software upgrade to a computer in an office in Edinburgh can collapse the processing of a daily “batch” of 20 million transactions at one of the biggest banking groups in the world, has left many scratching their heads!

It caused upheaval and huge inconvenience in the lives of customers in Britain and Ireland, but most spectacularly for well in excess of 100,000 customers at Ulster Bank who struggled to access their own cash and were unable to make everyday payments

Given the climate of financial markets and customer concerns about the security of deposits amid a four-year banking crisis, the technical problems could not have come at a worse time for a group that has already had a chequered recent history.

Not only did the failure seriously damage Ulster Bank’s reputation, the payroll bill arising from the computer failures was significant. More than 100 senior executives and managers had to work around the clock, while 2,000 branch staff had to work additional hours dealing with customers and facilitating payment.

The example itself is quite interesting, if you want to read more here is the link🙂

http://www.irishtimes.com/business/sectors/financial-services/ulster-bank-counts-the-cost-of-catastrophic-it-meltdown-1.530340?page=1

8 Responses to “Irish example of an I.S. Failure”

  1. sad111708665 March 9, 2013 at 5:14 pm #

    ….an excellent example!!! Nat West in the UK have had a very similar incident earlier this month. Thanks for the great blog🙂 here’s a link to the Nat West story;

    http://www.guardian.co.uk/money/2013/mar/07/natwest-banking-crash-what-need-to-know

    • sad111413602 March 9, 2013 at 5:18 pm #

      Thanks! I’ll check out that example!

  2. sad112759089 March 9, 2013 at 5:17 pm #

    Very interesting to read about in Irish I.S failure as I haven’t read or heard much of I.S failures in Ireland which in one way is a good thing!

  3. sad111708665 March 9, 2013 at 5:41 pm #

    …cool, cool! its a good article on the Guardian🙂 ENJOY!🙂🙂

  4. sad111396161 March 9, 2013 at 10:36 pm #

    Very good blog! Really interesting and will be helpful for study for the exam ,thanks🙂

  5. sad111533667 March 10, 2013 at 7:51 am #

    Great blog! have been blogging on this topic also and this example will really help people to understand this topic more

  6. sad111526987 March 10, 2013 at 6:21 pm #

    There’s some other very good information to be found on the guardian if ye take a look!

  7. sad111548123 March 10, 2013 at 10:55 pm #

    Great to see an Irish example used- make it very accessible.!

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