As someone who has done support for finance's IT departments, the "this was broken for years and no-one noticed" idea sounds bang-on. I've watched the millions of signatures and meetings, but none of that matters when someone screws up the implementation (but not badly enough that anyone cares to complain).
Seconding this. You can have all the meetings you want, but at the end of the day the core competency of bank management is managing money and not managing IT, and banks suck at managing IT when it isn’t directly in the critical path of cash flow, and even then they get it wrong more often than anyone wants to admit.
So many people want to be "the person who orders the thing be done" and not "the person who does the thing".
Dysfunctional organizations have (somebody-else-is-doing-it / im-doing-it) ratios that get way out of control. There's also (talking-about-doing-it / doing-it), where dysfunctional orgs lose the ability to experiment.
