Poor Investment in Bank technology causes faults

The video discusses the challenges faced by RBS due to outdated computer systems and poor management decisions. These issues have led to significant disruptions in digital banking services, affecting customer access and trust. The video highlights the consequences of underinvestment in banking infrastructure and the impact on brand image during crises. RBS is working to restore services and regain customer confidence, but this comes with substantial costs.

What is the main issue with the RBS Group's computer systems?

• They are too advanced for current banking needs.

• They are outdated and not suitable for modern digital banking.

• They are too expensive to maintain.

• They are the most efficient systems available.

What significant event occurred for the first time due to the banking issues?

• All banks were closed for a weekend.

• Bank branches were open on a Sunday.

• Customers received extra interest on their accounts.

• Online banking was made free for a month.

How does NatWest describe its banking approach?

• Traditional banking

• Innovative banking

• Helpful banking

• Efficient banking

What is a major consequence of the banking blunder for RBS?

• Increased customer trust

• Expansion of banking services

• Improved brand image

• Costly compensation and restoration efforts

What are RBS's efforts to address the banking issues?

• They are ignoring the problems.

• They are working 24/7 to restore normal operations.

• They are increasing service charges.

• They are closing all branches temporarily.