Y2K REPAIR LEAVES CASH MACHINES ON THE BLINK
... A software glitch rattled up to 5 percent of the nation's automated teller machines for more than two weeks earlier this month. The glitch resulted in failed machines, slow transactions and incorrect bank balances for tens of thousands of ATM transactions.
The mistakes occurred after a little-known Texas company in late June finished installing a new computer system designed to process ATM transactions properly in the year 2000.
"We don't take it lightly," said T.G. "Tim" Connor, president of the financial industry group of Affiliated Computer Services Inc., a $1 billion-a-year Dallas company that processes 20 million ATM transactions each month.
The problem follows repeated assurances from the federal government that ATM terminals are expected to work normally after the year 2000 calendar rollover ...
ACS began installing a new operating system in January, upgrading an old system that was not able to properly process dates beyond 1999. The company had been moving terminals systematically onto the new system without incident, until it moved the last of the terminals on the last weekend in June.
At that point, some machines broke down, stalled or rejected cardholders' requests. Other cardholders received the proper amount of cash from the machine, but the bank accounts were wrong.
[more ...]
oregonlive.com
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Not same company, but same topic. Only connection that I know of so far is that ... and EDS are both based in Dallas.
WASHINGTON - May 26, 1999 (Reuters) - U.S. banking regulators Friday announced an agreement with a major regional electronic funds transfer network, TransAlliance L.P., to speed up its lagging Year 2000 preparations.
TransAlliance, which processes ATM and debit card transactions for nearly 800 banks, thrifts and credit unions in the western United States and Canada, committed to complete Y2K testing of the computer systems serving all of its customers by JUNE 30, the deadline set by Federal banking agencies for all financial institutions. The company processes around 42 million electronic transactions every month ...
The company agreed to provide U.S. banking agencies with reports on its strategy for
meeting the deadline, its progress in doing so and its contingency plans for dealing with
any problems that might occur after the millennium date change.
The agencies involved are the Federal Reserve, the Federal Deposit Insurance
Corp., the National Credit Union Administration, the Office of the Comptroller of
the Currency and the Office of Thrift Supervision ...
TransAlliance, a partnership between a group of banks located mainly in the U.S.
Northwest and computer services giant Electronic Data Systems Corp. (NYSE:EDS -
news), said it was committed to getting its Y2K preparations on track ...
''We are pleased that we could agree with the regulators on the steps we are taking to
ensure Y2K readiness by June 30, 1999. We are confident we will meet this date,'' its
president and chief executive officer, James Benson, said in a statement.
In terms of the agreement, if TransAlliance fails to meet the deadline, its
customers will be free to break their contracts with it and switch to another
service provider ...
The company had undergone a management shake-up and was fully focused on meeting
the federal deadline, Merrick said.
''There's a new management team that's been put in place within the last three weeks,'' he
said. ''They're taking the full responsibility for getting it fixed, and it's their number one
priority.'' ...
dailynews.yahoo.com. |
