Line Bank report on crash not satisfactory: regulatorBy Kao Shih-ching / Staff reporterA report by Web-only Line Bank Taiwan Ltd (連線商業銀行) explaining why its information system crashed on the first day of operation was not satisfactory and the Financial Supervisory Commission (FSC) would demand that the bank improve its operations, commission Chairman Thomas Huang (黃天牧) said yesterday. “However, we cannot completely accept the report,” Huang said. Signage for Line Bank Taiwan Ltd is displayed at the company’s headquarters in Taipei yesterday. Line Bank attributed the crash to a system overload on April 22, the first day of its formal operations. “Web-only banks should offer a more convenient service than conventional banks, but it [Line Bank] does not,” Chang said.

Source: Taipei Times May 10, 2021 15:56 UTC