DBS Group Holdings skilled a serious service disruption in a single day, disrupting its digital banking and ATM companies in Singapore on 8 March 2025 (Saturday), Bloomberg reported.
This marks the primary vital disruption since Could final 12 months.
In accordance with a Fb replace from DBS, prospects had been unable to entry companies, together with digibank Cell and On-line, DBS PayLah!, DBS mTrading, ATM transactions, and NETS funds, from early morning till 5:48 a.m. native time.
Complaints about outages surged round 1 a.m., as tracked by Downdetector. It stays unclear if the problem affected prospects exterior Singapore.
The financial institution initially knowledgeable prospects that digital companies had been inaccessible however assured them that debit and bank card funds remained purposeful.
Subsequent updates confirmed that companies had been progressively being restored, with prospects regularly regaining entry earlier than full restoration was introduced.
The disruption follows a sequence of technical points that started in 2022, which led to regulatory scrutiny and operational changes at DBS.
In Could 2024, the Financial Authority of Singapore (MAS) lifted a six-month ban on the financial institution’s non-essential digital companies, imposed after an analogous outage in 2023.
MAS had beforehand acknowledged that DBS had made substantive progress in addressing its technological vulnerabilities, although issues over system resilience stay.
DBS beforehand lowered the compensation of its CEO, Piyush Gupta, in response to persistent technical failures.
Regardless of these challenges, the financial institution has maintained sturdy monetary efficiency, reporting report earnings final 12 months.
The financial institution apologised for the inconvenience and confirmed that each one companies had been totally restored by 5:48 a.m. however didn’t present particulars on the reason for the disruption.
