DBS Bank Action Packed After Two Days of Online Chaos
What went wrong?
Singapore’s Money Authority is putting DBS Group on the spot after the bank’s whole online arena—everything from logins to the payments app—went haywire for a second straight day.
Leadership’s Read‑out
- Marcus Lim (MAS) said the glitch was “serious” and DBS must dig deep to locate the root cause and patch it up.
- He added that the Monetary Authority will lean on suitable supervisory actions after the investigation.
- DBS’s own chief Shee Tse Koon promised customers that their money was safe and that they’d have on‑ground and phone support while they sort the digital mess.
Why the fuss?
Last week, DBS thought they fixed the problem by midnight, but the gremlins returned that morning—so the bank’s front‑page made waves across the web.
Customer cries
- “I can’t log in, what’s happening?” – 2,500+ Linked‑in comments in a day.
- “A single faulty server can halt everything for 24+ hrs? That’s nuts!” – Tan Kim Lam.
- “Downtime is too long. Disappointed. Time to switch Bank.” – Samson Joseph.
What else is on the horizon?
With Singapore pushing digital‑only banking into the next year (Grab, Singtel & Sea are already eyeing licences), DBS fans are hoping the bank can finally keep up with the hype.
Past History
- Back in 2010, a major error left people unable to pull cash from ATMs for hours—MAS had to intervene then.
- This time, Group CEO Piyush Gupta has poured billions into cloud upgrades and tech revamp.
Bottom line
DBS is glossy on the surface, but the heartbeat of its tech infrastructure is still glitch‑prone. The Monetary Authority isn’t just watching; they’re ready to clamp down if DBS keeps slipping the approval tests.
