Question

1. After making a programming change in a major bank's computer system, an employee forgot to enter certain commands. As a result, approximately 800,000 direct deposits received by the bank were not posted to the customer accounts until the next day. What are some potential consequences of the error? If you were the bank president, what would you say in a statement to the news media of your customers?

MINIMUM 300 WORDS REQUIRED

Answer 1

Answer

POTENTIAL CONSEQUENCE - this type of error can interrupt the business. May be client need an emergency fund and because of your mistake he has to pay a lot. It will effect the client's bank account that how much money available in his account. Maybe he has to show the full amount but by the bank's mistake he is not able to do so. A client may be panicked to think that where his money gone. A million things can run into his mind. He could we get heart attack. May be he has to pay some loan,and this money he has to receive from some friends or relatives, but could not receive on time. There are several things can affects the client life due to this one mistake by bank. There could be some major business loss or cancel of any contract due to insufficient amount in his bank. Therefore he was waiting for this amount.

BANK PRESIDENT STATEMENT TO NEWS MEDIA -

President will start his statement that this is a technical error, and it could be solve, because a computer can make mistakes sometimes. Our employee never done this type of mistake before. First time it has done by him due to technical reason. We have already done the transaction in client's account. We are feeling apologize for this and we offer some privileges to the client for this mistakes, and promise that it would not be again. The client is our old and valuable customer, so we value his feelings and loss, what he has suffer. We will provide some privileges for our mistake, and we will talk with him about this to short out the matter.

This is by a technical issue as we have been resolved this. We are a reputed bank and don't want to demolish our status by these types of mistake do again in future.