SINGAPORE – DBS Financial institution will conduct a full overview of its processes after its worst digital disruptions in a decade left the financial institution’s prospects fuming final week.
Chief govt Piyush Gupta apologised for the service outage, telling the Reuters Subsequent convention on Friday (Dec 3): “The shoppers have the correct to anticipate extra from us and I share their frustration and their ache.”
Account holders couldn’t entry their balances or make funds when digital banking providers have been down for at the very least two days final week.
Mr Gupta famous that as banks get extra digital and technologically superior, buyer expectations additionally rise.
He mentioned the financial institution will overview its processes and give you methods to do higher.
DBS started encountering points with its entry management servers on Nov 23 that prevented prospects logging into financial institution providers. The issue resurfaced the next morning.
DBS mentioned on Nov 25 that logins and transaction actions had returned to regular that morning, though some prospects have been nonetheless dealing with points.
The financial institution mentioned the disruption was not attributable to a cyber assault and added that buyer knowledge was protected.
The Financial Authority of Singapore (MAS) mentioned final week that it will contemplate taking “supervisory motion” over the outage.
Monetary establishments should make sure that the entire unscheduled downtime for vital programs affecting buyer providers doesn’t exceed 4 hours inside any 12-month interval.
Final week’s disruptions weren’t the primary DBS has skilled.
In 2010, MAS took supervisory motion when the same outage took down all client and enterprise banking providers for greater than six hours.
