Singapore banking giant DBS says digital services 'intermittent' after outage

Singaporean multinational bank DBS said on Wednesday (March 29) that access to its digital banking services became intermittent after an outage earlier in the day left customers unable to use its web and mobile banking platforms. Taking to Facebook, DBS said that clients using its digital services- — digibank Online and Mobile, PayLah! - might experience some slowness during login.

"Please be assured that your deposits and monies are safe and secure. We are sorry for the inconvenience caused," the Facebook post added.

According to Downdetector, the access disruption at the Singaporean bank started around 7 am local time on Wednesday.

Earlier in the day, DBS said on Facebook that access to its digital services was unavailable, adding that the bank was resolving the issue and would update as soon as services were recovered.

"Customers can continue to use their DBS/POSB cards for transactions. Please be assured that our systems remain secure and uncompromised," the bank added.

According to a report by the news agency Bloomberg, Wednesday's incident was reminiscent of an outage DBS suffered in 2021 — one of its worst digital disruptions in the last decade.

The Monetary Authority of Singapore (MAS) ordered the bank to set aside more capital after thatearlier outage 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.

Earlier this week, DBS had said that the MAS asked the bank to validate the bank’s remedial actions about the 2021 event by July this year, Bloomberg reported on Wednesday.

Under the 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.

(With inputs from agencies)

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