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JPMorgan, Goldman order halt to software updates around U.S. election - The Information

·1 min read

Oct 29 (Reuters) - JPMorgan Chase & Co and Goldman Sachs Group Inc will both halt software updates to the retail and investment banking systems their customers use to manage accounts around final day of the U.S. presidential election, The Information reported on Thursday.

It is a preventive measure intended to minimize the risk of outages of their services during a period of potential market volatility surrounding the election, the report added.

JPMorgan's technology leadership team recently told the bank's technology staff that it will halt all software code changes for critical banking systems between Nov. 1 and Nov. 8, according to the report. (Reporting by Kartik Mehindru in Bengaluru; Editing by Maju Samuel)