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MAS Directs DBS to Assess Staff and Tech Supporting Its Digital Banking Services

The Monetary Authority of Singapore (MAS) has directed DBS to conduct an assessment of the staff, processes, and technology supporting its digital banking services following its prolonged disruption on 29 March 2023. Senior Minister and Minister in charge of MAS

Deconstructing the Evolution of the Fintech Sector in Asia

Since the term ‘fintech’ was first coined in the early 2010s, the financial technology sector and the ecosystem around it has undergone a massive evolution. A fluctuating economic climate has seen some startups go public, while others have gone under

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LinkedIn Ranked DBS, StanChart, Grab as Best Workplaces to Grow a Career in Singapore

LinkedIn, a business and employment-focused social media platform, has ranked DBS Bank as the best workplace to grow a career in Singapore. The 3rd annual LinkedIn Top Companies also featured other financial institutions including Standard Chartered Bank, Mastercard, Citi, Grab,

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MAS’ Longest Serving Top Chief Ravi Menon Reportedly Stepping Down This Year

The Monetary Authority of Singapore’s (MAS) longest-serving chief Ravi Menon will be stepping down as this year, according to a report by Bloomberg. Ravi, who turns 59 this year, has served for 12 years at MAS and his current term

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OCBC Launches Virtual Branch on Metaverse Platform Decentraland

OCBC Bank has set up a virtual branch OCBCx65Chulia on the metaverse platform Decentraland which is named after its headquarters on Chulia Street, Singapore. The virtual branch OCBCx65Chulia allows visitors to learn about OCBC’s historical milestones along with the latest

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DBS’ CEO Piyush Apologises for ‘Embarrassing’ Disruption, Sets up Committee to Investigate

DBS Bank has set up a special board committee with immediate effect to conduct a full and detailed investigation on the digital disruption that it had faced last Wednesday (29 March). This was announced by DBS’ Chairman Peter Seah during

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MAS: DBS’ Service Disruption ‘Unacceptable’, Bank Fell Short of Expectations

The Monetary Authority of Singapore (MAS) said that the disruption of DBS’ digital services yesterday is unacceptable especially since the bank experienced a similar incident in November 2021. MAS added that it takes “seriously the reliability of banks’ critical IT

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DBS Experiences digibank and PayLah! Service Disruption

DBS Bank announced that its access to its digital services including the digibank Online as well as Mobile, PayLah! is currently unavailable in a Facebook post at 10.20am today. While these services are down, the bank said that customers can

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MAS: Credit Suisse to Continue Singapore Operations Without Disruptions

Credit Suisse will continue operating in Singapore without any interruptions or restrictions following its takeover by UBS, said the Monetary Authority of Singapore (MAS). MAS added that customers will continue to have full access to their accounts and Credit Suisse’s

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MAS: Singapore Banking System Has “Insignificant Exposures” to Failed US Banks

The Singapore banking system has “insignificant exposures” to the failed Silicon Valley Bank (SVB), Signature Bank and Silvergate Bank in the US, according to the Monetary Authority of Singapore (MAS). The regulator added that Singapore’s banking system still remains sound