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26-04-2023, 11:40 PM
The Monetary Authority of Singapore (MAS) has directed DBS to conduct an assessment of the staff, processes, and technology supporting its digital banking services following its prolonged disruption on 29 March 2023.
Senior Minister and Minister in charge of MAS Tharman Shanmugaratnam was asked in a parliamentary question on how the regulator has been working with the bank to identify and remedy its problems.
DBS has experienced two major disruptions in the past 16 months with the first in November 2021 and has since undertaken measures to mitigate the identified gaps.
The bank has focused on enhancing its access control architecture, by building in more redundancy, monitoring its key system components more closely and improving its system restoration processes.
Tharman added that DBS has also committed to strengthening its in-house technical expertise to facilitate faster response to system issues.
More at https://tinyurl.com/mrysr6zb
Senior Minister and Minister in charge of MAS Tharman Shanmugaratnam was asked in a parliamentary question on how the regulator has been working with the bank to identify and remedy its problems.
DBS has experienced two major disruptions in the past 16 months with the first in November 2021 and has since undertaken measures to mitigate the identified gaps.
The bank has focused on enhancing its access control architecture, by building in more redundancy, monitoring its key system components more closely and improving its system restoration processes.
Tharman added that DBS has also committed to strengthening its in-house technical expertise to facilitate faster response to system issues.
More at https://tinyurl.com/mrysr6zb
