Sumitomo Mitsui Banking Ordered to Report on System Glitch

Politics

Tokyo, May 10 (Jiji Press)--Japan's Financial Services Agency has ordered Sumitomo Mitsui Banking Corp. and its parent, Sumitomo Mitsui Financial Group Inc. <8316>, to report on a system failure that disrupted automated teller machine services during the Golden Week holiday period, according to informed sources.

Under the banking law, the agency ordered the bank and its parent to report on the cause of the glitch and how they dealt with affected customers, urging them to take preventive measures, the sources said Monday.

On the evening of April 30, connections between Sumitomo Mitsui's core banking system and ATMs became unstable. The problem made it difficult to execute transactions through Sumitomo Mitsui's ATMs using other banks' cash cards. Customers trying to make deposits for cashless settlement services were also affected.

As the trouble had a widespread influence on customers, the agency judged that it would be necessary to check on what happened by having the bank and its parent submit reports.

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