The outage of the DBS mobile app on Saturday comes amid growing pressure from the MAS

Of Fintech News Singapore
June 3, 2024

DBS and POSB customers struggled to access the bank’s mobile apps on Saturday morning, with more than 500 problem reports logged on outage monitoring site Downdetector since 7am.

According to The Business Times, users of DBS’ digibank app reported that they were unable to log in or were logged out immediately after gaining access.

A warning on the app indicated potential difficulties for customers in accessing Digibank mobile services. This incident follows a series of outages suffered by DBS in 2023.

A DBS spokesperson informed The Business Times that “a small number of iOS users were experiencing network issues” as of 7.52am.

Despite the outage, affected customers were able to continue using DBS PayLah, digibank online internet banking and DBS/POSB credit cards for payments.

The bank has since resolved the issue, allowing all iOS users to access digibank mobile services as normal starting at 11:02 am.

DBS has been under intense supervision from the Monetary Authority of Singapore (MAS) following repeated disruptions to its online banking and payment services in recent times.

Previously, the online services of DBS and POSB had compared each other another outage on May 2 despite ongoing remedial efforts to correct issues resulting from the 2023 outages.

MAS had concluded a six-month suspension of non-essential activities for DBS on 30 April, which had been imposed to allow the bank to focus on fixing vulnerabilities in its services.

However, the regulator had maintained the current 1.8x multiplier for DBS Bank’s operational risk-weighted assets.

Featured image credit: Edited by Freepik

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