DBS Mar 19 service disruption caused by ‘erroneous step’ during system change: Gan Kim Yong

Mr Yeo had asked whether the root cause of the disruption had been identified, whether it was similar to previous incidents and how it was being addressed.

He also asked how MAS will take action to ensure that banks strengthen the resilience and reliability of their digital banking services.

In his written reply, Mr Gan, who was responding on behalf of Prime Minister and Minister for Finance Lawrence Wong, said MAS has set a clear expectation for banks to limit the unscheduled downtime for critical systems to four hours for any rolling period of 12 months.

“This expectation holds banks to high standards of system resiliency while recognising that operational disruptions can sometimes happen due to the complexity of systems.

“When there is a system outage, banks are expected to recover services swiftly and safely,” Mr Gan said.