OCBC’s Digital Banking Services Back Online After Intermittent Disruptionsby Fintech News Singapore November 8, 2023
OCBC Bank has announced that its internet banking, OCBC Digital App Funds Transfer, and PayNow services have resumed after experiencing intermittent technical issues in a Facebook post yesterday (7 November 2023) at 2.45 pm.
However, the comments from users after the update indicated that some of them still experienced difficulties logging in, making fund transfers, paying for their credit cards or even paying out salaries.
The bank had earlier advised customers who need to make urgent transfers to use other modes of payment such as credit cards and/or NETS.
OCBC Bank did not reveal the cause of the technical issues.
Major retail banks in Singapore have faced similar disruptions to their services with UOB users having experienced sporadic disruptions to its online banking platforms on 4 November.
The disruption of DBS and Citibank’s digital banking services on 14 October was more protracted with up to 810,000 failed login attempts and 2.5 million payment and ATM transactions being affected.
The disruptions were caused by a malfunction of the cooling system in the data centre hosting both banks’ IT systems.
MAS took a tougher stance against DBS because it experienced five disruptions to its banking services in the last eight months.
The regulator had banned DBS from making any non-essential IT changes or acquiring any new business ventures for a six-month period, reducing the size of its branch and ATM networks in Singapore.