Reply to: MPs call for action on banks, Big Tech to avoid IT failures

[scooterscot]

The Blockchain that is Bitcoin has not had one failure in the network these past 10 years.

Just saying like

[BR14]

No such animal.

I've warned you, craphat.

[Zigenare]

Even at $12k each, that's a lot of pizzas!

Top Five Most Expensive Pizzas in The World - Haute Living

I can't see any self-respecting Glaswegian spending $4,200 on a pizza...

No such animal.

[ladymuck]

feck me that's a lot of pizza's

Even at $12k each, that's a lot of pizzas!

Top Five Most Expensive Pizzas in The World - Haute Living

I can't see any self-respecting Glaswegian spending $4,200 on a pizza...

[Zigenare]

And you fell for it?

I was a bootie, not a tankee!

[DimPrawn]

an Army Recruitment ad of the time.

"My name's Bob and I'm a born leader! I earn £40 a week! You can buy farsands of smarties for £40".

And you fell for it?

[Zigenare]

Bob??? wtf?

It was from a comedy sketch by the well known comedian and travelling minstrel Sir Billy Connolly where he takes the piss out of an Army Recruitment ad of the time.

"My name's Bob and I'm a born leader! I earn £40 a week! You can buy farsands of smarties for £40".

[darmstadt]

It's going to the lowest bidder. And then to the next lowest bidder, to fix some of the mistakes from the first time. And then the next lowest...well, you get the idea.

Agreed. I've been in some discussions with major UK financial institutions over the last few years about some projects and have put bids in, come back with it's too expensive and they've gone with the other supplier. The other supplier(s) have now come back to us as they don't have the necessary technological know-how and are having serious problems

[BR14]

It's even more "Smarties", Bob.

Bob??? wtf?

[Major Hassle]

Why? It has nothing to do with IR35.

Yet

[Mordac]

Can we move this thread to the IR35 forum

Why? It has nothing to do with IR35.

[portseven]

Can we move this thread to the IR35 forum

[Mordac]

I haven't got access to the latest year's Gartner figures but alongside professional services, banks and other financial services companies spent the highest percentage of revenue on IT amongst 20 odd sectors globally only a few years ago.

You have to wonder where all that money is going for there to continually be so many outages for critical systems. I assume a lot of the spend is driven by regulation but even so, spending 50% more than any other sector makes me think banks have been using too many expensive contractors....

It's going to the lowest bidder. And then to the next lowest bidder, to fix some of the mistakes from the first time. And then the next lowest...well, you get the idea.

[edison]

Most of the worst failures seem to happen in retail banking (where they outsource and use poorly paid permies), not investment banking (with the expensive contractors).

Retail banking failures are the ones that affect ordinary consumers and the public in large numbers. I guess there are investment banking failures, we just never get to hear much about them in the media?

[BrilloPad]

You have to wonder where all that money is going for there to continually be so many outages for critical systems. I assume a lot of the spend is driven by regulation but even so, spending 50% more than any other sector makes me think banks have been using too many expensive contractors....

The expensive contractors have long gone. Its all off-shored or near-shored now.

Banks just don't !"get" the value of IT.