Tan Kin Lian's Blog: Major I.T. Failure

Wednesday, July 07, 2010

Major I.T. Failure

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8 comments:

Concerned said...: Imagine if we have only just one big bank in Singapore so that it is big enough to compete overseas in China or India, etc, etc And there is a computer glitch like what happens with DBS for 7 to 8 hours, almost all business transactions in Singapore with that one bank have to come to a complete halt or done manually. How big would be the losses to the economy and the inconvenience caused to the customers would be. Better to have a few banks in Singapore, as the sayings go "don't put all your eggs in one basket.; July 07, 2010 4:45 PM
Anonymous said...: Totally agree with 4:45pm .We cannot have just one local bank in Singapore. Do not try to be world no 1 in every thing. Just like our energy source, we cannot depend on just one source only .; July 07, 2010 6:52 PM
Anonymous said...: Everyone please relax.

The floods in Orchard Road were a once in 50 years event.

Likewise, this little computer glitch is a once in 50 years event.

You don't expect to build huge drains in Orchard Road just to prevent floods that only occur once every 50 years right?

Likewise, we should not expect DBS to invest millions of dollars in idle computers that will only be needed for glitches that will occur only once every 50 years.

Floods are to be expected if you live in the tropics. Perfectly normal.

Likewise, computer glitches are to be expected if you use a lot of technology. Also perfectly normal.; July 07, 2010 7:49 PM
chnrxn said...: I would think a bank big enough to compete in overseas markets would be more likely to neglect its local customers too.; July 07, 2010 8:46 PM
Anonymous said...: DBS' IT backup System failed to lauch when its IT System failed. HaHa! Like they need another backup System to back up the backup System already in place. Another mess after the last time their internet banking was hacked into. Doesn't gain confidence from its customers when it already lost goodwill by fighting its customers in legal case on failed structured products.; July 07, 2010 9:23 PM
Anonymous said...: It is very scaring to realise DBS, out of cutting costs to increas the profit profile of the bank, outsources all its IT operations to an outsider, who have all the confidential info of all the bank's
clients in its database, which could be leaked out and sold outside by dishonest employees of the outsource Company, IBM.
It seems DBS relies on cutting costs to such an extent, in order to pad up its profits, and not out of real increase in its business operations. Yes, foreign CEOs would do everything to increase its pay packet, even to the extent of compromising clients' security.
Better to spread risks by not putting all our moneys into this bank. Better not put all our eggs in this basket.; July 07, 2010 9:29 PM
Anonymous said...: It is like Singapore trying to achieve GDP growth at the expense of social cost!; July 08, 2010 12:47 AM
Anonymous said...: That DBS CEO said that during the system failure, the bank increased the frontlines staff and up the staff for the branches.

I was wondering where the hell did all those extra "manpower" comes from. Is it really possible to suddenly "increase" the staff out of the air?

Even if I were to believe that the bank did indeed manage to get a few staff from the admin department to "look see look see" at one of the branch, how exactly are they able to assist their colleagues at the branch. Funny right?; July 08, 2010 11:17 AM