IBK to halt service next month on system change

The state-run Industrial Bank of Korea will halt its financial service for three days from Oct. 3 to replace its main computing system.

Debit cards, automated teller machines and online banking services will be out of service during the period, while credit cards will remain in operation, according to the bank officials.

IBK’s new Post Next-Generation system will enable the bank to manage its customer information through a centralized system, they added. “We chose the first week of October as Oct. 3 is a national holiday,” said an official. “We advise our customers to withdraw cash or transfer money in advance by Oct. 2, before the long weekend starts.”

IBK has decided to switch its current IBM-monopolized mainframe system to a Unix-based system, which allows for multiple system providers in the market.

KB Kookmin Bank previously sought a similar transition, but the move was put on the back burner over a feud between the heads of the bank and KB Financial Group that ultimately resulted in sanctions from financial authorities.

(tellme@heraldcorp.com)