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24 Nov, 2021 10:21

Southeast Asia’s largest bank brought to its knees

Southeast Asia’s largest bank brought to its knees

Singapore’s DBS Group, Southeast Asia’s largest bank, has faced two consecutive days of mass disruption in its online banking services.

Technical problems with access control servers caused disruptions of DBS’ payments app, with thousands of customers complaining online that they couldn’t log in to their accounts and threatening to switch banks on Tuesday.

Hours after a fix to the first outage was announced, the second outage hit the app.

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DBS on Wednesday assured its clients that technical problems are being solved, while their deposits are “safe” and can be accessed via the bank’s branches and phone banking services.

This week’s outage is the biggest DBS glitch since 2010, when the bank’s ATMs malfunctioned, resulting in a supervisory action from Singapore’s financial regulator.

DBS is the largest bank in Southeast Asia, with $491.9 billion in assets, over 24,000 employees, 250 branches and 1,100 ATM machines across 50 different cities.

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