Cathay United Bank App, Online Banking Disruption Draws FSC Scrutiny

Cathay United Bank is one of Taiwan’s largest private-sector banks. Its CUBE App and online banking platform provide services including fund transfers, foreign-currency exchange, and purchases of stocks and funds. Because system stability directly affects a large number of customers’ ability to move money, the bank reported the disruption to the Financial Supervisory Commission as required, and it is being handled as a major operational incident.

Cathay United Bank’s app and online banking services experienced delays on the 10th, affecting users for nearly five hours. The preliminary cause was a load balancer nearing its capacity limit without a timely switch to backup equipment. The bank temporarily activated a queuing system in the CUBE App to manage traffic. The FSC has received the report and ordered Cathay United Bank to submit a full investigation report by the 21st.