SINGAPORE: A single erroneous step during a system change caused the March 19 disruption to DBS bank services, stated Deputy Prime Minister Gan Kim Yong on Wednesday. The Monetary Authority of Singapore (MAS) will work with DBS to enhance its change management processes.
The disruption, lasting approximately one hour from 12:03 PM to 1:19 PM, prevented customers from viewing deposit balances and making payments via digital channels. ATMs, credit cards, and NETS debit cards remained accessible. MAS has set expectations for banks to limit unscheduled downtime for critical systems to four hours within a 12-month period.