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The Year 2000 - BANC ONE Prepares for the Next Millennium
Excerpts from the link provided:
bankone.com
Overview of the Year 2000 Issue
In the 1960s and `70s, when computing standards were being designed,computers had limited memory and little storage space. One of the space-saving solutions was to use a two-digit, rather than a four-digit,year code.
Computers were programmed to assume the first two digits of the year are "19." So, January 1, 1999 becomes 01/01/99. This presents a challenge to users of computers and computer-controlled devices programmed this way because they will not read dates beyond December 31, 1999. This flaw is known as the Year 2000 problem, or millennium bug.
If the flaw is not corrected, computers will consider the date 01/01/00 to represent January 1, 1900. This can cause systems to lockup, crash or provide erroneous information.
BANC ONE's Strategy
As BANC ONE moves forward to meet the Year 2000 challenge, we can assure our employees, customers and business partners that we are positioned for success well into the next millennium.
BANC ONE's strategy to become Year 2000 compliant touches every area of the Corporation. To ensure a smooth transition, we have committed resources to evaluate, fix, and test programs, databases, and applications.
Following are key components of our Year 2000 initiative:
A dedicated project team is working with every operational area throughout BANC ONE.
A certification program provides greater assurance that our lines of business can support the transition to the 21st century.
We are looking at third parties that interact with BANC ONE, such as the Federal Reserve and other banks, to make sure they are addressing the issue.
We are working with vendors who have provided BANC ONE with hardware and software to find out what they're doing to make their products Year 2000 compliant.
Many of our systems are already Year 2000 compliant, and we know what we need to do to fix remaining programs and applications. Our objective is to have all systems and facilities compliant by December 31, 1998.
c1997 BANC ONE CORPORATION |
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