TEMPO.CO, Jakarta - The Financial Services Authority (OJK) continues to monitor Bank Mandiri's (IDX: BMRI) efforts to repair its IT system following the massive error on Saturday, July 20. The OJK said that banks must have and implement good operational standards during system failure.
"First is to prioritize consumer protection related to customer rights—including the restoration of its services," OJK deputy commissioner for public relations and strategic management Anto Prabowo said in a written statement on Sunday, July 21.
On Saturday, July 20, thousands of Bank Mandiri customers report changes in the amount of their savings balance. Some customers said their baances declined while others reported a sudden increase.
Bank Mandiri immediately held a press conference. Corporate Secretary Rohan Hafas had said that from Saturday morning to noon, a system error resulted in a drastic change of balances in the accounts of 10 percent of the bank's customers, or around 1.5 million accounts.
That afternoon, Bank Mandiri announced their system had returned to normal and the customers' balances had been corrected. Bank Mandiri also took anticipative measures by temporarily suspending accounts that try to transfer the additional funds.
OJK asks all banks, including Bank Mandiri, to always review the functions of their IT systems.