Twitter search for “lost my debit card”

Help Change Retail Banking

Nine months ago, I left Gilt Groupe to work for a retail bank. If it wasn’t for an invitation from a close friend, I probably wouldn’t have considered the new opportunity. Like many I have hired, I didn’t have much interest in working for a bank. I joined because I was inspired by an opportunity I had never received before: help change the culture and technology of the retail bank.

So far, I’ve learned change is hard and patience is a requirement. I’ve observed change is well received but working within legacy structures can be frustrating. I’ve seen change is necessary to create stable, secure, and wonderful customer experiences. And, I’ve realized retail banks need talented and experienced technologists today for a few reasons.

1. Retail banking software needs to be updated so it’s easier for engineers, designers, and product owners to deliver better customer experiences. The core systems for most banks were written in languages like MUMPS (Massachusetts General Hospital Utility Multi-Programming System). MUMPS feels like it was intentionally designed decades ago to protect itself from replacement by being deliberately unreadable. But today, hospitals and banks rely on this software to handle critical core systems. Want a peek at what MUMPS looks like? Here is hello world (examples taken from Wikipedia):

hello() w "Hello, World!",! q

Not elegant but not too awful. It’s relatively easy to understand what’s happening here. But beyond hello world, it gets gnarly. MUMPS doesn’t have a notion of reserved words. It interprets source code by context. This context may be comprehensible to computers but it quickly becomes indecipherable to humans:

GREPTHIS()
       NEW SET,NEW,THEN,IF,KILL,QUIT SET IF="KILL",SET="11",KILL="l1",QUIT="RETURN",THEN="KILL"
       IF IF=THEN DO THEN
       QUIT:$QUIT QUIT QUIT ; (quit)
THEN  IF IF,SET&KILL SET SET=SET+KILL QUIT

Did your mind explode? If not, hang on to your skull cap because the following snippet will ruin your day. Here is the code above in the more frequently used terse mode:

GREPTHIS()
       N S,N,T,I,K,Q S I="K",S="11",K="l1",Q="R",T="K"
       I I=T D T
       Q:$Q Q Q
T  I I,S&K S S=S+K Q

Terrified?

Don’t let it scare you. You can figure it out, I promise. It takes time and patience. Retail banks (and hospitals) need to have legible code in place to allow more engineers to work on vital customer systems.

2. Most of us don’t have a mattress that protects our money as well as retail banks do. For the rest of us mere mortals who do not sleep on steel, we rely on debit cards, ATMs, and retail branches. But every day, bad guys trick ordinary people into giving them their money. The stories that bother me the most are those of elderly people giving away their debit card numbers and pin codes to people on the telephone or email who claim to represent their bank. It feels horrible. Smart technologists can help create better user experiences and products that protect against customers of all backgrounds from being victims of theft and fraud. Let your imagination run wild.

3. Today, bank leaders are prioritizing technology in their organizations unlike what I’ve heard they’ve done in the past. Start-ups garner attention every time they say they are going to disrupt banking. And, that’s good. We need more ideas and more creative solutions. Banks have significantly and subjectively different cultures. I’ve seen banks with amazingly warm and friendly employees who want to help their customers. They need great engineers, designers, and product people. They want to build a wonderful experience for their customers. Find the charismatic leaders and push to change banking there.

4. We need better technology and new ideas to provide safeguards to prevent another Great Recession. Banks aren’t going away and technology is critical to their stability. Your engineering skills could create the feature protecting customers and our economy in the future. To do this, you have to learn how banks work and to push your ideas forward.

Maybe you’re like me and never considered working for a bank because of its stereotype or its recent history. But if I told you there are banks who want you to change them, would that change your mind? Someone has to work for a bank. Why not fill it with people who want to change it for better?

If you liked this, would you mind clicking the ❤ button below?? You may also like reading Stop Whiteboarding or The Myth Of The Unlimited Vacation Policy.