JPMorgan processes deposits delayed overnight - Metro US

JPMorgan processes deposits delayed overnight

FILE PHOTO: A sign of JP Morgan Chase Bank is seen in front of their headquarters tower in New York

(Reuters) – JPMorgan Chase & Co <JPM.N> has processed some direct deposits, or funds deposited in a bank account electronically, that were delayed earlier during overnight processing in the United States, a company spokeswoman said on Friday.

It was not immediately clear what caused the delays.

In 2018, a glitch in the bank’s website caused clients to see a different customer’s account after signing in. (https://bit.ly/3ezxmlq)

Outages have happened with increasing frequency at banks and other financial firms that handle customer deposits and investment accounts.

Sometimes the outages stem from technical glitches or routine maintenance that goes awry, but financial firms are also major targets of online attacks that overwhelm their systems with requests, attempt to install malware or otherwise cause technical difficulties.

(Reporting by Noor Zainab Hussain and Niket Nishant in Bengaluru; Editing by Shounak Dasgupta)

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