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DBS to Step up Hiring Engineering Talent to Fix Complex Software Bugs, Says CEO Piyush
DBS’ CEO Piyush Gupta revealed that software bugs or technical glitches were the root cause of four out of the five major service disruptions experienced by the bank in 2023, according to The Straits Times. Recognising the need for stronger
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OCBC’s Digital Banking Services Back Online After Intermittent Disruptions
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
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810,000 Failed Logins, 2.5M Transactions Affected by DBS and Citi’s Service Disruption
The impact of the DBS and Citibank digital banking disruption on 14 October was wide, with up to 810,000 attempts to access the digital banking platforms of both banks failing between 2.54 pm and 4.47 am the following day. Approximately
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UOB Online Banking Suffers Disruptions on Saturday, Back Up By Midday
The United Overseas Bank (UOB) experienced sporadic disruptions with its online banking platforms last Saturday (4 November), according to a report by The Business Times. Users began reporting difficulties in accessing the bank’s mobile and internet banking services around midday,
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How Will DBS Bank Reclaim Trust After Service Interruptions?
DBS Bank, one of Singapore’s largest financial institutions, is facing an unexpected year of technical challenges in 2023. While digital banking has positioned itself as a convenient and efficient alternative to traditional banking methods, it’s not without its pitfalls. The
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DBS Apologises for Service Disruptions, Sets Aside S$80 Million for System Resiliency
DBS had issued an apology for the series of digital banking disruptions this year and outlined a comprehensive roadmap to improve its technology resiliency. The bank said it is addressing the issues at hand with utmost priority and has taken
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DBS Faces 6-Months Freeze on IT Changes, New Ventures, and Branch/ATM Reduction
The Monetary Authority of Singapore (MAS) has imposed a six-month pause on non-essential IT changes at DBS Bank and prohibited the bank from acquiring new business ventures in response to recent disruptions to its digital banking services. DBS had experienced
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YouBiz and Carousell Partner to Help Singapore SMEs Digitalise and Grow
YouBiz, the corporate card and finance management platform for businesses by Singapore’s neobank YouTrip, has partnered with online marketplace Carousell. This partnership aims to help local SMEs and startups accelerate their business growth and save costs as they scale locally
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CIMB and J Trust in Race to Buy Indonesia’s Bank Commonwealth
Malaysian bank CIMB and Japanese finance company J Trust are interested in buying Indonesian lender Bank Commonwealth, according to Reuters. Morgan Stanley is the financial advisor on the sale. The deal could value the lender at US$400 million to US$500
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Why Fintech Super-Apps Are Transforming the East, But Not the West
Fintech super-apps, often defined as mobile or web applications offering a plethora of services, from payments to financial transaction processing, have seen an incredible surge in popularity. For both individuals and businesses alike, they’ve transformed the way transactions and services
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