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SINGAPORE: Investigations into the disruption of DBS services<\/span> on Mar 19 revealed that an erroneous step when performing a system change was the cause, said Deputy Prime Minister Gan Kim Yong on Wednesday (Apr 8).<\/p>\n The Monetary Authority of Singapore (MAS) will follow up with DBS to “strengthen its change management process”, added Mr Gan, who is also the Minister for Trade and Industry<\/span>.<\/p>\n He was responding to questions from Alex Yeo (PAP-Potong Pasir) about the bank’s digital banking services disruption on Mar 19.<\/p>\n 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.<\/p>\n He also asked how MAS will take action to ensure that banks strengthen the resilience and reliability of their digital banking services.<\/p>\n 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.<\/p>\n “This expectation holds banks to high standards of system resiliency while recognising that operational disruptions can sometimes happen due to the complexity of systems.<\/p>\n “When there is a system outage, banks are expected to recover services swiftly and safely,” Mr Gan said.<\/p>\n<\/div>\n