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What Price Innovation? 05/11/2007 13:44:31
CIOs say they want more than the traditional “your mess for less” relationship with their outsourcing providers. And the providers want to market themselves as partners in innovation. So why isn’t it happening?CIOs say they want more than the traditional "your mess for less" relationship with their outsourcing providers. And the providers want to market themselves as partners in innovation. So why isn't it happening?
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Human error is to blame for a transaction error which caused thousands of Westpac customers to miss payments, be overcharged and overpaid early yesterday.
A spokeswoman for the bank confirmed a error caused by staff had misaligned transaction verification processes for a batch of accounts in the bank's back-end payment systems.
The financial impact of the mistake is expected to cost 'many millions', however the bank shot down media reports that faulty payments were upwards of $1 billion.
Wetspac is "most of the way through" reimbursing affected customers, almost 24 hours after the incident, and will continue revoking over-payments and reimbursing those underpaid or charged overdraw fees.
"We have a formal processes in place to make sure a any customers impacted won't be out of pocket and are working with other banks to understand the impacts on their customers," she said.
IBM, which has a 10 year IT outsourcing deal with the bank, could not comment on whether any part of the error occurred on its side.
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Success Stories
Australian Unity minimises costs and maximises productivity with single sign-on for 1,400 users
Australian Unity needed to address its business and security risks including user management and application security management. The company chose an enterprise single sign-on (ESSO) solution and discovered increased employee productivity, reduced help desk costs and elevated data protection.
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BT saves more than £15 million and improves customer services with comprehensive Identity & Access Management
To enable future growth and ensure its services remain competitive, BT needed to build closer relationships with its customers and suppliers. Discover how the company is now performing over 36 million transactions a day with their improved Identity & Access Management Solution.
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Identity & Access Management
Simplify and Secure: Managing User Identities Throughout their Lifecycles
Organisations are constantly challenged to keep pace with ongoing changes to users and their roles, responsibilities and requirements. Discover how CA can help you create a unified approach for managing users identities, providing them with timely and appropriate access to applications and information.
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Simplify, Integrate and Safeguard Your Business with Secure Web Business Enablement
Modern organisations are required to aggressively expand the number and type of Web applications and services provided to customers, partners and employees. Discover how to automate, delegate and centralise your key processes and services including user administration, access policies, auditing and compliance by reading on.
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Simplify, Integrate and Secure: Providing Secure Access to Server-based Information and Resources Across Platforms
Distributed servers are a powerful asset in any company’s infrastructure. Over time, most organisations have acquired a variety of different platforms and are relying on them to house an increased amount of critical applications, processes and data. Read on to discover how you can achieve a consistently higher level of server access security across multiple platforms including virtual hosts and guest operating systems.
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