<p>JPMorgan Chase & Co and Goldman Sachs Group Inc will halt software updates to its retail and investment banking systems that customers use to manage accounts, around the November 3 US presidential election, the banks said on Thursday.</p>.<p><em>The Information</em> had reported earlier on Thursday about the banks' move.</p>.<p>"We plan and implement code freezes periodically throughout the year to coincide with times of increased market activity," Patrick Lenihan, a Goldman Sachs spokesperson said, adding that a code freeze is instituted around every election.</p>.<p><a href="https://www.deccanherald.com/tag/us-presidential-elections-2020" target="_blank"><strong>For latest updates on the US Presidential Elections 2020, click here</strong></a></p>.<p>Meanwhile, a JPMorgan spokesperson confirmed the report by <em>The Information</em>, but did not elaborate further.</p>.<p>The digital media firm's report also said the move was a preventive measure intended to minimize the risk of outages of their services during a period of potential market volatility surrounding the election.</p>.<p>JPMorgan's technology leadership team had recently told its technology staff that it will halt all software code changes for critical banking systems between November 1 and November 8, the report said. Those systems include Chase.com retail banking as well as trading, treasury, asset management and other services. </p>
<p>JPMorgan Chase & Co and Goldman Sachs Group Inc will halt software updates to its retail and investment banking systems that customers use to manage accounts, around the November 3 US presidential election, the banks said on Thursday.</p>.<p><em>The Information</em> had reported earlier on Thursday about the banks' move.</p>.<p>"We plan and implement code freezes periodically throughout the year to coincide with times of increased market activity," Patrick Lenihan, a Goldman Sachs spokesperson said, adding that a code freeze is instituted around every election.</p>.<p><a href="https://www.deccanherald.com/tag/us-presidential-elections-2020" target="_blank"><strong>For latest updates on the US Presidential Elections 2020, click here</strong></a></p>.<p>Meanwhile, a JPMorgan spokesperson confirmed the report by <em>The Information</em>, but did not elaborate further.</p>.<p>The digital media firm's report also said the move was a preventive measure intended to minimize the risk of outages of their services during a period of potential market volatility surrounding the election.</p>.<p>JPMorgan's technology leadership team had recently told its technology staff that it will halt all software code changes for critical banking systems between November 1 and November 8, the report said. Those systems include Chase.com retail banking as well as trading, treasury, asset management and other services. </p>