AIB has spent almost €2.4 billion over the past eight years investing in technology, according to figures given in an investor presentation last July. The aim has been to deliver what it calls “a simplified, modern, resilient and customer-focused IT infrastructure”.
But staff at the bank, led by chief executive Colin Hunt, would have been forgiven on Wednesday morning for wondering where the money was spent as they struggled to log on to their computers when they started work.
They wouldn’t have been alone. Customers trying to get through to AIB’s phone banking service were also left frustrated for a period – with some taking their ire to social media.
“Due to an internal technical issue earlier this morning, some customers were unable to get through to our phone banking services. The matter has now been resolved,” the bank said in a statement shortly after 11am in response to questions.
“We apologise for any inconvenience.”
The statement, happily, put to bed the wild speculation in some quarters that AIB had been subject to a cyberattack.
But it still offers a reminder of inherent risks in the ongoing digitalisation of banking, driven by changing consumer behaviour and, let’s face it, lenders making it increasingly difficult and time consuming for customers to carry out what should be simple tasks in branches.
Increased use of technology may be great for improving efficiency for both service providers and consumers. But only if it works.
