Citi’s $900 Million Misfire Happened During Software Switch
A worker wearing a protective mask waters a lawn outside Citigroup Inc. Citibank branch in Kuala Lumpur, Malaysia. (Photographer: Samsul Said/Bloomberg)

Citi’s $900 Million Misfire Happened During Software Switch

(Bloomberg) -- For years Citigroup Inc. has been an anomaly among big banks, relying on an obscure piece of software it helped develop to manage loan payments. Just as the bank tried to replace it,...
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