DBS digital services back online

Singapore’s largest bank, DBS, experienced an outage that began on Wednesday morning and lasted most of the day. Customers were unable to access online banking platforms like the PayLah! mobile wallet, and reports of service outages began to surge around 8:30 AM, according to Downdetector.

DBS announced in a Facebook post at 7:30 PM that its digital services, including digibank Mobile and Online, PayLah!, and mTrading, had returned to normal as of 5:45 PM.

During the outage, DBS had extended its opening hours by two hours at all DBS and POSB branches, as well as Treasures Centres, and advised customers that their deposits and monies were safe and secure. In an earlier update, DBS said that access to digital services like Vickers mTrading and PayLah! was intermittent, and customers might experience “some slowness” during login.

DBS customers took to the bank’s Facebook page to express their frustration with the outage, with some users saying they needed to use the app urgently. MAS, Singapore’s regulatory authority, issued a statement calling the outage “unacceptable” and instructing DBS to conduct a thorough investigation.

In November 2021, DBS experienced a two-day outage that resulted in MAS imposing additional capital requirements on the bank, which had to apply a multiplier of 1.5 times to its risk-weighted assets for operational risk, amounting to S$930 million in additional regulatory capital.