Banks have some of the worst IT in the world. Being purely manager-led, with developers completely subservient to the bean counters, the results are terrible.

This is one of the reasons why in 2019 they wrote about their own demise https://web.archive.org/web/20240213185758/https://www.cimb.... against fintech (which is only slightly less archaic) and how cryptos, I don't know which ones, but maybe some yet to be born, will eventually displace them because regardless of their dominant position, the level of poor service and archaic systems is not humanly/socially sustainable for much longer.

Their leadership is mentally incapable of changing. Unfortunately, I fear that most of the population isn't either.