The missing/backed out direct deposits from customers accounts this week STILL hasn't been restored. Some customers say funds are now "pending" but still not available. They can't pay bills!
WTF is going on? Is WF using customer $$$ to temporarily cover massive losses from Friday's stock plunge? Frantically selling assets and then they'll restore customer funds? WF is a cest pool of corruption. Horrifying breach of trust. Govt. should break up WF. It's a criminal enterprise.
I'm betting the A-team was laid off; the B-team is what is running the app show. And, since with agile the only concern is working from point-a to point-b and nothing else matters, we are in a world of hurt. Essentially - no one has the big picture and no one cares. The only thing that matters is getting the agile story completed.
So much institutional knowledge has left the bank, via layoff's or resignations, its incredible. And, all the new hires (and there are many since anyone still here is "dead wood" in sr. mgmt's eyes) - none of them know what the bank's systems are, who's running things, what the current state is, and where the gaps are. But rest assured, these new hires are being paid MUCH more than those who've left, and boy are they SMART!!! (not)
Bottom line is, we are losing control of the bank's systems, slowly but surely, and more issues are sure to crop up. It's almost guaranteed.
Wells Fargo used to be known as a Cadillac IT environment, one that was considered top notch and reliable. Even IF it was old and stodgy. All that reputation has been wasted, its gone now. Just read some of the social boards if you disagree. Customers have now been impacted, add this to last year's fiasco where WF went offline due to a different technical issue.
I actually feel embarrassed to admit where I work when asked. I kind of shuffle my feet and change the subject. How sad.
Wasn't firing Scott Dillon after the Shoreview fire fiasco supposed to be the end of massive technological failures?
Agile is a complete waste of resources… also notice many new hires filling senior roles
Be prepared for more. We have unqualified Indian developers coding what they got from inexperienced analysts and managers who don't know the systems or business. Agile is a joke. I bet this was a recovery issue from some other problem executed incorrectly since the people who know are gone. Chainsaw is executing slash and burn well.....this is the burn.
How easy is is to cast stone on long timers and previous leaders when something went wrong. Townhall after townhall bashing old leaders. Well, they are now in the same camp and exceeded anything in the past IMO. The fallout from this will take years.
“Coincidentally” occurred on a day 2 other banks failed?? Curious.
I’m wondering if our systems were overwhelmed with customers checking their accounts and/or pulling out their money. Noting that it doesn’t take too much to overwhelm our systems.
Is saul still sleeping? Elon musk should wake him up and put a bed in the office to fix it.
Wonder how SVB and TK will spin it. TK is in over her head in her role. I think maybe a DEI role would be more suited for TK. But then SVB will lose his cheerleader and WF would lose the only person they place on meaningless award ballots .
No issues with my accounts. In fact no issues for almost 30 years. If i were banking at a credit union i might have concerns though, small and weak processes.
My account no longer shows any technical difficulty banner this morning. I am able to access the functionality in the app, see my accounts and balances. Everything looks good. However, I had no scheduled deposits, so I wasn’t on the direct deposit problem list.
That being said, this sort of incident makes me nervous. The outage took too long to fix. Where’s all the Agile speed we keep hearing about?
Was this incident due to a lack of testing or poor documentation? Both of those went away with Agile. Or was it due to very experienced employees leaving, laid off?
If you can’t retain talent due to the RTO mandates, you will lose some key people.
I suppose we may see more similar outages in the future.
Embarrassing