DBS Singapore: The Best Boasting To Be The Best For So Long, Humbled By Hubris
DBS Bank, Singapore’s leading consumer bank and one of the largest banks in Southeast Asia, experienced a 10-hour digital banking services outage on March 29, 2023, leading to the Monetary Authority of Singapore (MAS) calling the incident “unacceptable.” The bank apologised to its shareholders and customers during its Annual General Meeting on March 31, and CEO Piyush Gupta stated that the disruptions have been “sobering” for DBS Bank. The outage marks the second disruption the bank has faced in 16 months, with a similar incident occurring in November 2021. DBS Bank has taken immediate action in response to the disruption.…
Share