DBS Mobile App Outage on Saturday Occurs Amid Mounting Pressure from MAS

DBS Mobile App Outage on Saturday Occurs Amid Mounting Pressure from MAS

by June 3, 2024

DBS and POSB customers faced difficulties accessing the bank’s mobile apps on Saturday morning, with over 500 reports of issues recorded on outage tracking site Downdetector since 7 am.

According to The Business Times, DBS’ digibank app users reported being unable to log in or being logged out shortly after gaining access.

A notice on the app indicated potential difficulties for customers accessing their digibank mobile services. This incident follows a series of disruptions that DBS experienced in 2023.

A DBS spokesperson informed The Business Times that a “small number of iOS users experienced network issues” starting from 7:52 am.

Despite the interruption, affected customers could still use DBS PayLah, digibank online Internet banking, and DBS/POSB credit cards for payments.

The bank has since resolved the issue, with all iOS users able to access their digibank mobile services normally from 11:02 am.

DBS has been under the intense oversight of the Monetary Authority of Singapore (MAS) following repeated disruptions to its online banking and payment services in recent times.

Previously, DBS and POSB’s online services had faced another outage on 2 May despite ongoing remedial efforts to rectify issues from 2023 disruptions.

MAS had ended a six-month suspension of non-essential activities for DBS on 30 April, which had been imposed to allow the bank to concentrate on fixing its service vulnerabilities.

However, the regulator had maintained the current multiplier of 1.8 times to DBS Bank’s risk-weighted assets for operational risk.

 

Featured image credit: Edited from Freepik

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