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Mizuho s system failures caused by corporate culture, third-party probe says | WSAU News/Talk 550 AM · 99 9 FM
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Mizuho s corporate culture to blame for serial system failures, probe finds
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(Adds possible postponement of accepting banking lobby head position)
TOKYO, March 17 (Reuters) - Mizuho Financial Group Inc , Japan’s third largest lender by assets, said on Wednesday it would set up a third-party committee to investigate a series of system failures, which it said had hurt its credibility.
Mizuho, which has a history of troubling customers with technical problems, has suffered four system glitches in the past two weeks.
“It’s the fact that a lot of customers have doubts on us, and Mizuho’s credibility has severely been eroded,” Chief Executive Tatsufumi Sakai said at an urgently arranged news conference.
(Adds possible postponement of accepting banking lobby head position)
TOKYO, March 17 (Reuters) - Mizuho Financial Group Inc , Japan’s third largest lender by assets, said on Wednesday it would set up a third-party committee to investigate a series of system failures, which it said had hurt its credibility.
Mizuho, which has a history of troubling customers with technical problems, has suffered four system glitches in the past two weeks.
“It’s the fact that a lot of customers have doubts on us, and Mizuho’s credibility has severely been eroded,” Chief Executive Tatsufumi Sakai said at an urgently arranged news conference.
TOKYO (March 17): Mizuho Financial Group Inc, Japan s third largest lender by assets, said on Wednesday it would set up a third-party committee to investigate a series of system failures, which it said had hurt its credibility.
Since late February, Mizuho has suffered three ATM-related glitches as well as delays to foreign currency-dominated remittances, mainly affecting corporate customers.
At an urgently arranged news conference, chief executive officer (CEO) Tatsufumi Sakai apologised for the incidents and said he recognised the incidents had eroded trust in us .
The committee would be chaired by lawyer Shuji Iwamura and more than two members would join later, Mizuho said.
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