A pedestrian passes an advertisement outside a DBS Group Holdings Ltd bank branch in Singapore. The Monetary Authority of Singapore takes seriously the reliability of banks’ critical IT systems, and has asked the country’s biggest lender to conduct a thorough investigation and submit its findings, it said in a statement late Wednesday after DBS’ latest outage stretched for about 10 hours. — Bloomberg
Singapore’s financial regulator will take action against DBS Group Holdings Ltd after a second digital banking outage in less than two years, calling the disruption “unacceptable”.
The Monetary Authority of Singapore takes seriously the reliability of banks’ critical IT systems, and has asked the country’s biggest lender to conduct a thorough investigation and submit its findings, it said in a statement late Wednesday after DBS’ latest outage stretched for about 10 hours.
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