We regret that banking services at DBS and POSB were temporarily unavailable this morning. We detected the problem at 3 am this morning, and our priority was to restore our systems expeditiously and ensure complete data integrity was maintained. Our branch and ATM services were restored at 10 am and all other systems were progressively restored by lunchtime.
During the first 1.5 hours of branch operations from 8.30 am to 10 am, we took proactive measures to ensure that there was minimal disruption to customers who needed cash urgently for their day-to-day needs. We honoured all cash cheques of $500 and below on the spot. Customers could also withdraw cash over-the-counter. Additional staff were deployed to the branches and we also increased staffing levels at our call centre. All DBS and POSB branches were opened for an extra 2 hours today, from 4.30pm to 6.30pm to assist customers with their banking needs.
Said David Gledhill, MD & Head, Group Technology and Operations, DBS: “The bank has multiple levels of redundancy to protect against such occurrences and this is the first time a problem of this nature has occurred. We are now conducting a full scale investigation with our main vendor IBM. We deeply regret the inconvenience caused and once again would like to assure our customers that DBS is continually reviewing and revising its resiliency and redundancy plans in line with developments and advancements in technology.”
DBS is one of the largest financial services groups in Asia with operations in 16 markets. Headquartered in Singapore, DBS is a well-capitalised bank with "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region.
As a bank that specialises in Asia, DBS leverages its deep understanding of the region, local culture and insights to serve and build lasting relationships with its clients. DBS provides the full range of services in corporate, SME, consumer and wholesale banking activities across Asia and the Middle East. The bank is committed to expanding its pan-Asia franchise by leveraging its growing presence in mainland China, Hong Kong and Taiwan to intermediate the increasing trade and investment flows between these markets. Likewise, DBS is focused on extending its end-to-end services to facilitate capital within fast-growing countries in Indonesia and India.
DBS acknowledges the passion, commitment and can-do spirit in each of its 14,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com.