| Insight

Browse Categories  
|
 Order #
Account *
 \


InQuotes Q1 2008 Gareth KershawInQuotes: Web Banking


"Thursday afternoon. A high street bank. Nine cashier's windows are visible stage left. Two are manned. A long queue stands looking at watches, drumming fingers, and sighing loudly. Somewhere, a telephone rings. And rings."

 At one counter, a lady in a tabard - who may be from a local amusement arcade - empties out a suitcase full of 10-pence pieces.

Eventually, a disembodied voice intones: "Cashier number 6 please..."

Cashier No.6: "Can I help you?"

Customer: "Yes, I'd like to pay this cheque into my savings account please..."

Cashier No.6: "Certainly... account number?"

Customer: "... 55588936..."

Cashier No.6 (pause): "Ah... erm... you can't pay money into that account here. It's Internet only."

Customer: "I'm sorry?"

Cashier No.6: "Internet only."

Customer (confused): "So I can't pay money into my bank account in my bank?"

Cashier No.6: "That's right. It's Internet only."

Customer: "OK. I'll make a transfer from my current account instead."

Cashier No.6: "Ah...well... you can't do that either. It's..."

Customer: "... Internet only?"

Cashier No.6: "Internet only."

Customer: "So this is a bank account into which I can neither pay nor transfer money?"

Cashier No.6: "Er... yeah. You see... it's Internet only."

Later. A side office. A woman wearing a strained smile and a badge saying: "Jane: Assistant Manager - how can I help?" sits across a desk. She may have recently completed her customer care and conflict management training.

Jane: "... that's right sir... the super e-savings direct bond plus is an Internet only account."

Customer (truculently): "But if I'd been told that when I opened it, I wouldn't have, well... opened it."

Jane (brightly): "You do get a higher rate of interest. There's less manpower involved you see..."

Customer (exasperated): "On what? I can't deposit any money upon which to earn any interest!! And as far as manpower's concerned, you've just spent 20 minutes dealing with an idiot like me when paying my cheque in would have taken 20 seconds..."

Jane: "I wouldn't use the word "idiot" sir... (under her breath) prat's probably nearer the mark...
No, this isn't the script for one of those Nationwide ads. It happened to me last week. In a real bank. Whose name rhymes with Fat Jest.

Why mention it? To prove that there are still businesses out there - and some pretty big ones at that - that still seem to think Internet can be a fait accompli; an autonomous end in itself. As this episode clearly demonstrates, it isn't, shouldn't be, can't be, and never was.

Here endeth the lesson."




InQuotes Q4 2007 Gareth Kershaw




Put down your weapon and step away from the rayon suit...

Remember Robocop? (the film rather than the frankly parlous TV series that is); specifically the bit where the baddy robot (the ED209?) malfunctions and mercilessly slaughters an unarmed boardroom executive.

In fairness, the latter is clad in a nasty 1980s suit of the rayon-stay-press variety favoured by ponytailed advertising types of the period, so he probably deserves his fate. But that's not why the scene comes to mind.

It's the warning the robot gives pre-rampage: "PUT DOWN YOUR WEAPON. YOU HAVE 20 SECONDS TO COMPLY." Petrified and confused, stay-press Fred immediately does as he's told. ED209 takes no notice:

"PUT DOWN YOUR WEAPON. YOU HAVE 15 SECONDS TO COMPLY...."

Long story short, the rest of the board hastily put some distance between themselves and the eventual victim (talk about art imitating life), who is slain precisely 15.01 seconds later; vehement and increasingly desperate protestations notwithstanding.

The big, bad, bullying authority.The distraught, befuddled executive. The culture of fear. Comply or die. Remind you of anything? For me it's disturbingly redolent of the current hysteria surrounding corporate governance There's a raft of new legislation, any number of bodies determined to enforce it, and a whole lot of executives terrified at the prospect. Everyone knows they have to comply, and most want to. But such is the associated legal and logistic complexity, that no-one seems entirely sure what they have to comply with. Or quite how to comply with it. Especially when it comes to their
systems and data.

Here's my slightly belated point. Compliance as it is now defined is a truly massive job. It requires the collaboration of many departments, technologies, and IT vendors. But not nearly enough of them are working together; pulling in the same direction for greater good.

It's time for some collective responsibility. Otherwise we're going to see the demise of a lot more suits. And, stay-press or not, that'd be bad news for everyone.

Gareth Kershaw is Editor of iQ






NASDAQ back to top