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The Royal Bank of Scotland is expected to spend £6 billion on IT infrastructure over the course of the next five years, it has been claimed.
According to the bank's chief executive Stephen Hester, the organisation had focused almost entirely on business acquisitions and failed to recognise the potential problems of technology integration.
Speaking at a Bank of America Merrill Lynch conference last week, Mr Hester said: "RBS was built as an acquisition machine and as a consequence, some of the quality, which it drives businesses and enables businesses to grow organically, was neglected through a series of distracting business integrations."
He claimed that forward-looking technology and the lastest network equipment had been neglected by the firm.
Meanwhile, the Royal Bank of Scotland is expected to cut the number of branches it operates in the UK by more than 300 as it looks to satisfy European Union regulations on taxpayer compensation following its UK bail out.
Last Updated: 14/10/2009 18:00
Royal Bank of Scotland to spend £6 billion on IT - Networking Industry News - Article Discussion
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