Mizuho to Halt Services to Conduct 2nd Data Transfer Work

Economy

Tokyo, July 12 (Jiji Press)--Mizuho Financial Group Inc. <8411>, the parent of Mizuho Bank, will temporarily stop the bank's automated teller machines and online banking services in the three-day weekend in Japan starting Saturday.

Such services will be suspended between Friday midnight (3 p.m. GMT) and 8 a.m. on Tuesday to allow the group to conduct its second round of data transfer, which is part of moves to unify its core computing systems for banking operations.

Mizuho Financial has an enormous amount of customer data as it has about 24 million customers in retail banking operations alone.

The company plans to conduct nine rounds of data transfer work in a yearlong period in an effort to securely complete the process, after Mizuho Bank experienced massive system failures twice in the past.

The first round was completed on June 11 without any hitches, but a glitch occurred in a securities trading system separate from banking operations in late June.

[Copyright The Jiji Press, Ltd.]

Jiji Press