Salem Radio Network News Saturday, November 27, 2021

Business

Singapore bank DBS says deposits safe after two-day tech outage

By Anshuman Daga and Aradhana Aravindan

SINGAPORE (Reuters) -DBS Group Holdings Ltd, Southeast Asia’s largest bank, assured customers on Wednesday that their deposits and monies were safe as its online banking services faced disruption for the second consecutive day.

The disruption, including to its payments app, is the biggest suffered by Singapore’s DBS since a major glitch in 2010 left customers unable to withdraw cash from ATMs for hours. That resulted in the bank facing central bank supervisory action.

The latest disruption drew the ire of customers just hours after the bank announced a fix after the first day of outage.

“Yesterday, we identified a problem with our access control servers and this is why many of you have been unable to log in,” Shee Tse Koon, Singapore country head of DBS, said in a video message on DBS’ Twitter handle.

“I want to assure you that your deposits and monies are safe,” said Shee, adding customers could use the bank’s branches and phone banking services.

(Reporting by Anshuman Daga and Aradhana Aravindan and Chen Lin in SingaporeEditing by Christopher Cushing and Mark Potter)

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