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

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

Citibank is learning a costly lesson in software design as a triple-checked mistake caused the bank to send out almost a billion dollars in loan payments instead of only $7.8 million. Citibank blamed the blunder on an Oracle banking program with a confusing user interface.

On Wednesday, a judge ruled that creditors do not have to return payments that Citibank made to them in error...

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