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Wells Fargo customers scramble after deposits disappear from their accounts (www.nbcnews.com)
submitted 3 years ago by to c/worldnews@lemmy.ml
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cross-posted from: https://lemmy.zip/post/1089947

Archived version: https://archive.ph/VXk77
Archived version: https://web.archive.org/web/20230805140619/https://www.nbcnews.com/business/business-news/wells-fargo-deposit-missing-outage-what-happened-rcna98201

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[–] 8 points 3 years ago (2 children)

I’m willing to bet a team of untrained, uneducated, software/data engineers receiving big salaries are responsible for this.

It’s my understanding that big brand banks live on top of brittle, low quality, poorly tested code- and that’s if they’re not straight up using excel to run production processes.

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  • [–] 12 points 3 years ago (1 child)

    I’m willing to bet a team of untrained, uneducated, software/data engineers receiving big salaries are responsible for this.

    I'd be willing to bet that they've outsourced to India instead.

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  • [–] 6 points 3 years ago (1 child)

    Nope, they run COBOL programs on mainframes from the 80s

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  • [–] 1 point 3 years ago (1 child)

    While they do rely on COBOL and old mainframes a great deal, that isn’t the only software supporting the company and its operations. That fact doesn’t negate what I’m speculating would be the cause.

    These big banks have multiple programming teams that use different programming languages and work on different products.

    If you go to their careers page, you will find tons of Java, .NET, and Python jobs posted. I’ve never seen a COBOL posting at a big bank (which doesn’t mean it’s never happened, but I can see any of these more modern languages posted any given day).

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