DBS Group Holdings Ltd. said access to its digital banking services became intermittent after a Wednesday morning outage left customers unable to use its web and mobile banking platforms.
(Bloomberg) — DBS Group Holdings Ltd. said access to its digital banking services became intermittent after a Wednesday morning outage left customers unable to use its web and mobile banking platforms.
Clients using its digital services — digibank Online and Mobile, PayLah! — may experience some slowness during login, Southeast Asia’s biggest lender said in an updated post on its Facebook page. The services remain unavailable, according to a message on the bank’s mobile-based services when some users tried to log in on their devices. “We are resolving the issue and will update as soon as services are recovered,” the message read.
Customers can still transact using their DBS cards, the bank said, apologizing for the inconvenience caused. The issue is limited to Singapore, a DBS spokesperson said, pointing to the Facebook post as the latest update on the disruption.
The access disruption at DBS started from about 7 am local time on Wednesday, according to Downdetector.
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 earlier episode left thousands of customers unable to log on to its digital platforms for at least two days. Those issues stemmed from the bank’s access control services. MAS has asked DBS to validate the bank’s remedial actions with regards to the 2021 event by July this year, DBS said earlier this week.
Under MAS regulations, financial institutions need to ensure that the maximum unscheduled downtime for each critical system doesn’t exceed four hours within any period of 12 months.
(Updates with DBS’s latest comments in first two paragraphs; adds local report in fourth.)
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.