Singapore’s DBS suffers digital banking disruption

Singapore’s DBS suffers digital banking disruption

The outage has left customers unable to access its web and mobile banking platforms.

The incident is reminiscent of a UBS outage in 2021, one of the bank’s worst disruptions in the past decade. (Reuters pic)
SINGAPORE:
DBS Group Holdings Ltd. suffered an outage of online services Wednesday morning, leaving customers unable to access its web and mobile banking platforms.

Southeast Asia’s biggest lender said “access to digital services (digibank Online and Mobile, PayLah!) is currently unavailable” in a post on its Facebook page as well as a message to users trying to log in on their devices. “Please be assured that our systems remain secure and uncompromised.”

The bank’s customers can still transact using their credit and debit cards, DBS added. The bank didn’t immediately respond to a request for further comment.

While unusual for a sector known for its constant availability, Wednesday’s incident is reminiscent of an outage the bank suffered in 2021 — one of its worst digital disruptions in the past decade.

The Monetary Authority of Singapore ordered DBS to set aside more capital after that episode left thousands of customers unable to log on to its digital platforms.

 

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