(Singapore 30 March 2023) The Wednesday disruption of DBS’s digital services is unacceptable, coming a year after a similar incident in November 2021, the Monetary Authority of Singapore has announced.
Early yesterday morning, DBS notified MAS that its customers were experiencing difficulties logging in to its digital banking services.
MAS said it had been in close contact with DBS to ensure expedited recovery of its digital services and timely communications to customers on the disruption.
“We note the bank has since resumed normal digital banking services and is monitoring the situation,” said MAS, noting that it takes seriously the reliability of banks’ critical IT systems.
It says that DBS has fallen short of MAS’ expectations to maintain high system availability and ensure its IT systems are recovered expeditiously. MAS has instructed DBS to conduct a thorough investigation to establish the root cause of the disruption and submit its investigation findings to MAS. MAS will take the commensurate supervisory actions after gathering the necessary facts.
At 7:30pm on March 29, DBS posted on its Facebook account that the system had returned to normal after an almost whole-day outage beginning from 10am.
