Swiss Online Bank In Spectacular Failure
from the $160-million-and-no-launch dept
Talk about your major failures. Swiss bank Vontobel has been working for two years on their online bank called Y-O-U.com. They spent $160 million on it, and now they’ve pulled the plug on it less than a month before it was supposed to launch. Apparently the people involved could do nothing right, and had no idea of the complexity involved. It sounds like a lot of egos who just figured they could will things to work correctly.