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Posted: Friday, 02 October 2009 11:26AM
TD Bank Says It Has Eradicated Last of Computer Problems KYW Newsradio Team Coverage by Michelle Durham, Ian Bush, and Al Novack TD Bank said on Friday afternoon that its computer operations were back to normal after three trying days during which customers reported being unable to access deposits or account information. Fred Graziano, executive vice president and head of retail banking at TD Bank, says that when the system first slowed down several days ago, officials asked themselves a number of questions: "I think the first question was, was any of the data an issue? And that has not been an issue, so we've captured the customer's data appropriately. The issue has just been the volume through the batch process." And he admits that the volume has caused major headaches for customers: "On behalf of the entire organization, we are truly apologetic for the inconvenience, and we recognize the frustration levels." And he says they are adding more lines to the customer service call center so that if an emergency should arise in the future, more people will be able to get through to get their questions answered. A spokeswoman for the Cherry Hill, NJ-based company said on Friday morning that the bank was making progress in catching up with a series of computer problems that left depositors unable to access their balances or their funds. She said that everyone's transactions as of Thursday have been posted and customers could see their balances as of the end of the day Thursday. Rebecca Acevedo said the bank was making direct deposits a priority and she expected bank customers to have access to those funds sometime on Friday. By about 2:30pm, she said the bank's records appeared to be back to normal. She reiterated that TD Bank would reimburse customers for any bounced-check fees they incurred. Villanova University IT professor Sue Metzger says the bank will be dealing with the aftereffects of this situation for months: "I think what is interesting about this particular case is that we're really seeing how social media has really highlighted the problems. You have people on Facebook and other social tools
Villanova School of Business 2009 Media Report