Resona Holdings Inc., Japan's fifth-largest bank by assets, reported Monday that 3,000 of its automated-teller machines failed, adding to evidence the lender mishandled the integration of computers from its predecessor banks.
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About half of Resona Bank Ltd.'s cash-dispensing machines and all of the machines operated by Saitama Resona Bank Ltd. experienced failures Monday morning. All of the equipment was working again by 2:30 p.m. local time, a spokesman said.
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The breakdowns were the fourth since Resona merged its Daiwa Bank Ltd. and Asahi Bank Ltd. units on March 1. Resona's problems included double-charging almost 3,000 accounts. Mizuho Holdings Inc., the biggest Japanese bank, botched the integration of three computer systems last year.
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"With the bank being forced to cut costs and reduce employees, it's pretty likely that such trouble will happen," said Akihide Kinugawa, a fund manager at T&D Asset Management Co. "How they deal with the problem is more important and I'll be focusing on that."
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Most of Japan's biggest banks were formed in mergers that followed bailouts in 1998 and 1999, and several, including the No. 4 lender UFJ Holdings Inc., experienced difficulties integrating systems. The mergers have been accompanied by job cuts and branch closures as lenders bid to reduce costs.
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Resona is still trying to find out the cause of the glitches, spokesman Takashi Oda said.
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Japan's Financial Services Agency has released guidelines to be followed in mergers and alliances.
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The regulator requires the presidents of the institutions to commit to ensuring the merger proceeds smoothly and to reconcile differences with their partner institutions and computer systems.
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Resona first reported automated-teller machine glitches on March 3, and twice since then has said it over-charged customers. On March 11, the managing director, Akiyoshi Otani, said the double-charging was the result of human error.
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Oki Electric Industry Co., Fujitsu Ltd. and Omron Corp. are some of the vendors that sell automated-teller machines to Resona, according to the companies.
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The computer system that runs the ATMs is supplied by IBM Japan Ltd., Oda said. TOKYO Resona Holdings Inc., Japan's fifth-largest bank by assets, reported Monday that 3,000 of its automated-teller machines failed, adding to evidence the lender mishandled the integration of computers from its predecessor banks.
.
About half of Resona Bank Ltd.'s cash-dispensing machines and all of the machines operated by Saitama Resona Bank Ltd. experienced failures Monday morning. All of the equipment was working again by 2:30 p.m. local time, a spokesman said.
.
The breakdowns were the fourth since Resona merged its Daiwa Bank Ltd. and Asahi Bank Ltd. units on March 1. Resona's problems included double-charging almost 3,000 accounts. Mizuho Holdings Inc., the biggest Japanese bank, botched the integration of three computer systems last year.
.
"With the bank being forced to cut costs and reduce employees, it's pretty likely that such trouble will happen," said Akihide Kinugawa, a fund manager at T&D Asset Management Co. "How they deal with the problem is more important and I'll be focusing on that."
.
Most of Japan's biggest banks were formed in mergers that followed bailouts in 1998 and 1999, and several, including the No. 4 lender UFJ Holdings Inc., experienced difficulties integrating systems. The mergers have been accompanied by job cuts and branch closures as lenders bid to reduce costs.
.
Resona is still trying to find out the cause of the glitches, spokesman Takashi Oda said.
.
Japan's Financial Services Agency has released guidelines to be followed in mergers and alliances.
.
The regulator requires the presidents of the institutions to commit to ensuring the merger proceeds smoothly and to reconcile differences with their partner institutions and computer systems.
.
Resona first reported automated-teller machine glitches on March 3, and twice since then has said it over-charged customers. On March 11, the managing director, Akiyoshi Otani, said the double-charging was the result of human error.
.
Oki Electric Industry Co., Fujitsu Ltd. and Omron Corp. are some of the vendors that sell automated-teller machines to Resona, according to the companies.
.
The computer system that runs the ATMs is supplied by IBM Japan Ltd., Oda said. TOKYO Resona Holdings Inc., Japan's fifth-largest bank by assets, reported Monday that 3,000 of its automated-teller machines failed, adding to evidence the lender mishandled the integration of computers from its predecessor banks.
.
About half of Resona Bank Ltd.'s cash-dispensing machines and all of the machines operated by Saitama Resona Bank Ltd. experienced failures Monday morning. All of the equipment was working again by 2:30 p.m. local time, a spokesman said.
.
The breakdowns were the fourth since Resona merged its Daiwa Bank Ltd. and Asahi Bank Ltd. units on March 1. Resona's problems included double-charging almost 3,000 accounts. Mizuho Holdings Inc., the biggest Japanese bank, botched the integration of three computer systems last year.
.
"With the bank being forced to cut costs and reduce employees, it's pretty likely that such trouble will happen," said Akihide Kinugawa, a fund manager at T&D Asset Management Co. "How they deal with the problem is more important and I'll be focusing on that."
.
Most of Japan's biggest banks were formed in mergers that followed bailouts in 1998 and 1999, and several, including the No. 4 lender UFJ Holdings Inc., experienced difficulties integrating systems. The mergers have been accompanied by job cuts and branch closures as lenders bid to reduce costs.
.
Resona is still trying to find out the cause of the glitches, spokesman Takashi Oda said.
.
Japan's Financial Services Agency has released guidelines to be followed in mergers and alliances.
.
The regulator requires the presidents of the institutions to commit to ensuring the merger proceeds smoothly and to reconcile differences with their partner institutions and computer systems.
.
Resona first reported automated-teller machine glitches on March 3, and twice since then has said it over-charged customers. On March 11, the managing director, Akiyoshi Otani, said the double-charging was the result of human error.
.
Oki Electric Industry Co., Fujitsu Ltd. and Omron Corp. are some of the vendors that sell automated-teller machines to Resona, according to the companies.
.
The computer system that runs the ATMs is supplied by IBM Japan Ltd., Oda said.
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