Clunky software with a confusing UI just cost Citibank $500 million - techbrinks

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Friday, 19 February 2021

Clunky software with a confusing UI just cost Citibank $500 million


On Wednesday, a judge ruled that creditors do not have to return payments that Citibank made to them in error. The bank was attempting to make $7.8 million in interest payments on behalf of Revlon last August, but a subcontractor in India handling the transaction mistakenly issued $900 million instead....

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