The current computer difficulties being experienced by The Royal Bank of Scotland Banking Group will not be unique to them as it will be found that other banks have not invested in new computer hardware during ”the good times” and often rely on 30 year old technology.
Updating computer technologies in banks will cause further disruption in banking systems, adding to the woes of the international financial markets.
NatWest’s meltdown could cost it £100m, but experts warn that will be dwarfed in the future.
Britain’s beleaguered banks must quickly inject billions of pounds into their creaking IT systems, on top of forking out for the many scandals that will continue to hit banking results this week. The warning comes in the wake of computer meltdowns at …