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Jakarta Post

Bank Mandiri urged to improve IT systems following recent technical glitch

  • News Desk

    The Jakarta Post

Jakarta   /   Mon, July 29, 2019   /   03:51 pm
Bank Mandiri urged to improve IT systems following recent technical glitch An employee moves packs of bank notes to the cash pool at Bank Mandiri in Jakarta. The Financial Services Authority and Bank Indonesia urged Bank Mandiri to improve its IT system. (The Jakarta Post/Seto Wardhana )

The Financial Services Authority (OJK) and Bank Indonesia (BI) have urged state-owned Bank Mandiri to improve its information technology (IT) system to prevent a technical problem similar to one that recently caused panic among its customers.

"We have asked Bank Mandiri to make sure that the IT system is safe for the future. It must evaluate and re-examine everything so that it does not happen again in the future, " the head of the OJK’s bank supervision department, Hezbollah, said as reported by kompas.com on Monday.

Hezbollah added that the OJK had sent an IT team to ensure that the Bank Mandiri system was safe for banking transactions. He also asked other banks to learn from Bank Mandiri’s experience so that a similar problem would not occur in their IT systems.  "Always update, improve and strengthen risk management and security," Hezbollah added

Meanwhile, the executive director of BI’s financial surveillance, Sempa AH Sitepu, said that the central bank had asked Bank Mandiri to provide an explanation regarding the technical problems that hit the bank’s IT system recently.

"We, Bank Indonesia and the OJK as the financial authorities are quite concerned about maintaining stability in the financial system. Bank Mandiri needs to improve as much as possible so a similar problem will not occur again."

Many customers of the state-owned lender complained about transaction failures after attempting to use ATMs on the morning of July 20. Many customers found more funds in their accounts than expected, while others found some of the money in their accounts had disappeared mysteriously. Within a day, the bank was able to settle the problems and return the missing money to the customers.

Bank Mandiri corporate secretary Rohan Hafas said at the time that the failures occurred because the maintenance of the ATM system had not taken place smoothly. He explained that every midnight the bank processed the reports of transactions that occurred during the day. (hen)