What a sad situation this is, ever since the merger was announced. When will the leaders be held accountable!
https://www.wcnc.com/article/money/truist-bank-customers-credit-card-disruptions/275-37dbf030-583e-4703-9106-5453132466b1
12 replies (most recent on top)
I don’t know who needs to hear this but Truist is not modernizing its technology.
Different area of the bank, but we're running off a mainframe from 1977 that the vendor barely supports. It's limped along due to "lifers" in the back offices but they're retiring. I have to wonder how expensive it's been to be this cheap.
I’m not sure but this seem to turn into a “Big Bang”
Truist is modernizing its core infrastructure from a 40-year-old mainframe technology as it prioritizes minimizing risk and attracting and maintaining deposits, but isn't planning a "big bang" system conversion anytime soon.
Jay Poole, head of consumer products technology at the bank, said that revamping core technology is an opportunity to mitigate risk, drive revenue and increase efficiency, but the bank plans to take it in small steps. Charlotte, North Carolina-based Truist is starting with its deposit core transformation, and will likely operate in a dual core environment for the "foreseeable future," Poole said in a Tuesday panel at American Banker's Digital Banking conference.
Try it now
This is under Poole who reports to Meyer. Not Elliott. Shocked anyone?
Is this under Elliott?
There might not have any changes in this area prior to now but I’m willing to wager that is going to change. You can’t have this kind of embarrassment when you trying to convince the world it’s a new day.
Years of planning and lots of testing done...no layoffs in that area! No small feat to pull off unscathed
“ There was a time when system upgrades / conversions were tested BEFORE being put into production. Perhaps all the “testers” have been riffed…..
The damage this fiasco has done to Truist’s already questionable reputation can’t be minimized.”
Almost all the User Accessibility Testers were laid off when the merger happened.
This was a $100MM+ project and was approved for more when asked. I don’t think this is a RIF issue, but a tech accountability and leadership issue, plus the business head for this lob strock needed to go years ago.
There was a time when system upgrades / conversions were tested BEFORE being put into production. Perhaps all the “testers” have been riffed…..
The damage this fiasco has done to Truist’s already questionable reputation can’t be minimized .
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