Yeah, these things don't "just happen". I cannot imagine even in a relatively low stakes environment (let's say a photo sharing app) to fuck up that badly without getting a heart attack.

I am in Spain right now and I have to get cash from an ATM soon, it feels like russian roulette to do so. I had to use a money transfer service UK internally to pay a dentist bill, because TSB's online banking website was showing an outdated phone number of mine that is used to verify transactions for new recipients. And of course, when you change the number you cannot use the new number for 2 days because of "security concerns".

IBMs involvement in the case doesn't fill me with confidence either.

I really hope this disaster is finding its way into MBA courses as an example of why you need a sane migration path, "no matter" the costs.

EDIT: removed the request for recommendations for new banks, should be a different thread.