Japan's banks have a similar system, based on half-width katakana. Fortunately most banks can fetch the name from each other, but sometimes transfers fail due to issues similar to those found in this article.
The pull system works in a different but similar fashion, and will (notably) fail if the information submitted with an incremental pull fails to match the name which was handwritten onto the document which sets up the pull (which is circulated at both financial institutions). A gym once received, and I was (in the literal sense) CCed, an icily polite letter from my local bank saying that the bank had no knowledge of a Mr. (close misspelling of McKenzie) and that if the gym had business with customer of the bank it should due him the common courtesy of getting his name right.
The length of names is a common cause. In Japan, a normal full name is usually 4 or 5 characters long, with some exceptional cases being slightly longer. Systems often have a character limit which can exclude many non-Japanese names, especially if you have a middle name.