At noon on December 12, the eGOLD application of DOJI Gold and Gemstone Group announced that it had temporarily suspended gold buying and selling transactions due to errors in the payment banking system. According to the announcement, transactions will be reopened as soon as the banking system is operating normally.
Not only the eGOLD application, the open-end fund trading platform Fmarket also announced the suspension of transactions for the same reason.
TPBank and DOJI have established a strategic partnership since 2014. This cooperation aims to promote the development of both brands in the financial and gold and gemstone sectors. TPBank provides modern banking solutions to support DOJI's business services, notably online payment services for the eGOLD platform.
Some DOJI customers expressed frustration at not being able to make gold transactions at a time when prices fluctuated strongly.
Mr. Nguyen Van Tung (Hanoi) shared: "At this time, the gold price is fluctuating, I want to take advantage of the opportunity to invest but the application reports an error. This is not only annoying but also misses opportunities for users."
Ms. Pham Minh Hanh (HCMC) added: "I use eGOLD for its convenience, but now I am dependent on the bank's fault. DOJI and TPBank need to have a backup solution to avoid this situation from happening again."
Chain effects of the incident
The incident at TPBank not only affected individual customers but also impacted affiliated businesses and financial institutions, such as DOJI and Fmarket.
Speaking with Lao Dong, Dr. Nguyen Tri Hieu - Director of the Institute for Research and Development of Global Financial and Real Estate Markets - said that TPBank has always stood out as a leading bank in digital platforms.
Dr. Hieu said that in reality, a bank system failure is a problem that can happen to any bank. In the US, there have been banks that have had their operations interrupted due to system overload. However, the rate will be low.
In Vietnam, banks have more frequent system failures. Dr. Hieu believes that when banks have system failures, it will cause inconvenience to customers and lose their reputation with their customers.
