In a strange and unexplained incident of a digital network system outage, online customers of JPMorgan Chase & Co., faced a total cut-off from making transactions of online banking and mobile payments nationwide.
As a leading and worldwide reputed New York City-headquartered multinational banking and financial corporation of the USA, and rated as the world’s third largest bank by total assets worth roughly 2.5 trillion US Dollars, the network system glitch must have hit JP Morgan Chase & Co., as a devastating blow to its famed management prowess, it is felt.
According to reliable reports, the company’s peer-to-peer payment service, labelled, ChaseQuickPay, was affected from around 16:00 hrs on Thursday last, and was restored only by 20:30 hrs, the same day. (Both EST).
A brief respite to the stressful hours of disruption, however, was that the Bank’s ATMs, branch network systems and the credit card debit/credit processes were operating without any fault.
Some customers reported that they could see their account balances in the machine’s monitors, but several complained that such data was not accessible by them. The Bank did not specify how many actually missed out on such information.
The real cause of the technology issue was not identified, even at the time of the news breaking out, but according to company insiders, the team was working on it, to prevent such failures in future.