US Bank wants to "modernize" systems and it isn't working. There are numerous instances however I know of one "modernization" where they could get what they are looking for for around $500,000 - they have decided to spend a minimum of 18 million to try and replicate what could be gotten for $500,000. Think of how many jobs could be saved with that 18 million.
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Toby Clemens in Ops Risk is holding a leadership offsite and flying his team into Atlanta. Must be nice. They can all sit around and pat themselves on the back for laying people off while the issues and regulatory problems pile up. When is this entire team going to be shown the door?
It was really nice to hear about all the executives going to Europe amidst expense cuts. Aka layoffs. I hope they enjoyed their 5 star hotels and nice dinners out while people struggle to pay their bills and lose their jobs.
It’s utterly ridiculous the amount vendors charge the bank and the bank just says - sounds good. They say emps have all the computer equipment needed to do their jobs yet when one breaks, you need God’s approval and the charge for equipment repair is beyond what a normal person with a brain would pay.
They want to spend stupidly on something like sapience to micromanage but complain all the time they need to cut expenses. I wouldn’t consider myself a negative person in my real life but this year has turned me into one. They don’t do anything to make for a positive work experience so why should I have a positive attitude at this place.
USB has to make cuts in order to fund Sekou’s “road shows” AKA booze binges with employees. Cut that 🤡 and you’ll save $500K.
Make as much sense as all the $$$ spend on modernizing these hub buildings into undesirable jail cell seating!
Makes as much sense as doing RTO, but outsourcing CRE.
Because US bank is a f'up of a bank. Every week my inbox is littered with emails notifying of widespread outages with all of us bank systems. i've worked at 2 other FI and what makes us bank unique is the frequency of outages and the time it takes to resolve them.
Ncino has the capability to do many things across all business lines. Not sure why there is an issue with modern tech.
Wells and many other bank also punted on SWP after investing millions on moving to SWP, but realized it wasn’t worth it.
USBank meanwhile is going forward to justifying wasting all the money and time on SWP even though it offers little benefit except for the PM, which probably won’t brother using the system anyway .
This bank just keeps wasting money
Even Wells Fargo punted on nCino when they discovered it was a money pit that would not work for them.
How many senior executives are going to lose their jobs when it reaches a similar fate at USB? By then AC will be long gone.
The only systems they aim to modernize are micromanagement systems... everything else is stone age or inoperable. From what Iam hearing this is all GK's work