Re: @Steve Todd
"I don't think they *need* to be anything like as complicated as they are, but I also think organisations like RBS, in particular, find it very hard to simplify things while keeping it all working."
So we're agreed it *is* the fault of RBS management past and present. In fact they've admitted as much in the press. Whilst we and they talk of "IT" failures, this is actually a failure of their core business, which is keeping transactions flowing and accounts balances correct through IT. Instead, the dogf*ckers who manage RBS have considered IT as an evil necessity, a support service, to be done as cheaply and nastily as possible. And meanwhile they have persuaded themselves that casino banking and reckless lending are the core purpose of the bank. In my view even regular "high street" lending isn't really the core business of the bank, it is simply a by product of holding account balances of savers and depositers, and sitting on funds whilst they clear.
Somewhile back one of the Reg articles referred to banking's core business as being an IT operation with a financial services business attached. That's self evidently been proven by RBS who chose to believe the opposite, and in which form it doesn't work very well. Will RBS admit their incompetence, bring IT back in house, onshore, properly designed and resilient? Somehow I think not, they'll just do the usual, in the form of unbelievably expensive sticking plasters that won't cure the underlying failings.