FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files
October 29, 2020
(Reuters) – JPMorgan Chase & Co will halt software updates to the retail and investment banking systems customers use to manage accounts around the final day of the U.S. presidential election, a company spokeswoman said.
Digital media the Information reported earlier on Thursday that JPMorgan and Goldman Sachs Group Inc will halt updates. JPMorgan did not offer further information. Goldman did not immediately respond to a request for comment.
It is a preventive measure intended to minimize the risk of outages of their services during a period of potential market volatility surrounding the election, the report added.
JPMorgan’s technology leadership team recently told the bank’s technology staff that it will halt all software code changes for critical banking systems between Nov. 1 and Nov. 8, according to the report.
Those systems include Chase.com retail banking, as well as trading, treasury, asset management and other services, the Information reported.
(Reporting by Kartik Mehindru in Bengaluru; Editing by Maju Samuel)
