SINGAPORE – DBS Bank will hire more engineering talent in the coming months to troubleshoot issues that might lie deep within its technology systems, in response to
Monetary Authority of Singapore managing director Ravi Menon said last week in an interview that there are some deeper-seated issues that need to be resolved at the bank. Working with a vendor to resolve these problems takes time, he said. Instead, improving the depth of DBS’ engineering team will help it troubleshoot bugs better.
Another priority is to decouple the bank’s systems such that important services can still be accessed. by the country’s central bank from acquiring new businesses or making non-essential IT changes for six months to ensure it focuses on shoring up its digital banking services. It is also not allowed to reduce the number of its branches and automated teller machines during this time.