SINGAPORE: DBS Bank users experienced intermittent issues logging into the bank’s mobile banking services on Friday (May 5) due to “high login traffic volume”, the bank said.
It was responding to comments on its Facebook page, where users were complaining about not being able to access mobile banking services, including its PayLah! and iBanking mobile apps.
Some users also reported being unable to withdraw money from automated teller machines (ATMs) and use the Paywave feature on their DBS cards.
Reports of DBS website outages spiked at about noon on Friday on website Downdetector, which tracks outages.
This screengrab of the Downdetector website shows DBS Bank users began reporting issues from about 12pm on May 5, 2023. Downdetector tracks outages by collating status reports from a number of sources including user-submitted errors on its platform.
In response to one of the comments on social media, DBS apologised for the inconvenience and said they are “currently experiencing intermittence”.
“We seek your kind patience to try again later due to high login traffic volume,” it added.
Another user noted that they were unable to pay for their order on mobile shopping platform Shopee with their DBS credit card.
In a statement at about 2.50pm, the bank said some retail customers faced difficulties accessing its banking and payment services, including DBS/POSB digibank online and mobile, DBS Vickers mTrading, DBS PayLah! and ATMs on Friday.
“Our digital systems returned to normal within 45 minutes at 1.30pm,” it said. “Most of our ATMs are also up and running.
“Please be assured our systems are uncompromised, and your monies and deposits remain safe.”
The latest disruption comes about a month after a day-long outage of DBS’ online banking platforms.
The Mar 29 incident prompted the Monetary Authority of Singapore (MAS) to issue a statement saying the disruption was “unacceptable” and that the bank has fallen short of the regulator’s expectations.
“MAS will take the commensurate supervisory actions against DBS after gathering the necessary facts,” it said then.
At the bank’s annual general meeting on Mar 31, chief executive Piyush Gupta apologised for the service disruption, calling the incident “sobering”.
“Ensuring uninterrupted digital banking services 24/7 has been our key priority,” he said. “Unfortunately, we fell short and I’m truly sorry. Our customers and our shareholders deserve better.”
Chairman Peter Seah announced at the meeting that a special board committee had been set up to investigate the outage. He added that the bank will engage external experts to look into the matter.
In November 2021, DBS was similarly hit by a major disruption that lasted two days. MAS imposed additional capital requirements on DBS in the wake of that incident. The lender had to apply a multiplier of 1.5 times to its risk-weighted assets for operational risk – translating to S$930 million in additional regulatory capital.
Earlier this week, the bank reported a stronger-than-expected 43 per cent jump in first-quarter profit to a new high from a year earlier on a higher net interest margin, sustained business momentum and resilient asset quality.
Image by; CNA
