DBS down again 2 May 2024

[vsvs24]

eh net net effect can be the same cause if dun lock the money can loan it out. can earn back the fine.

Not the same.

Fine is expense. Lock the money still asset..

Fine is shameful. Lock funds make balance sheet look good because people who don't know the background will think bank set aside so much so safer.

If MAS fine, DBS cannot boast record profits. Cannot give high dividends and shareholders will be unhappy and ask them to solve the technical issue. Now shareholders happy to get high dividends. So bank downtime they are not concern.

 

[reddevil0728]

Not the same.

Fine is expense. Lock the money still asset..

Fine is shameful. Lock funds make balance sheet look good because people who don't know the background will think bank set aside so much so safer.

If MAS fine, DBS cannot boast record profits. Cannot give high dividends and shareholders will be unhappy and ask them to solve the technical issue. Now shareholders happy to get high dividends. So bank downtime they are not concern.

Lock money end up earn less profit

vs don’t lock money earn more money to offset the fine

End up the profit might be same.

not the same meh.

the balance sheet also… fine reduce cash but if no lock money lend more to earn more profit to replenish the cash.

But lock earn less cash.

then the shame part is perception thing, hard to tell the tangible effect, just like restrictions being placed.

 

[vsvs24]

Lock money end up earn less profit

vs don’t lock money earn more money to offset the fine

End up the profit might be same.

not the same meh.

the balance sheet also… fine reduce cash but if no lock money lend more to earn more profit to replenish the cash.

But lock earn less cash.

then the shame part is perception thing, hard to tell the tangible effect, just like restrictions being placed.

Impact is still different. Fine should make them sit up more.

This downtime issue happen so many times already. Already give them so many chance. DBS just can't manage high volume.

 

[reddevil0728]

Impact is still different. Fine should make them sit up more.

But this one still subjective what. I don’t disagree with you optically it can be different, but essentially any measure/constraint has an impact.

the question is how do you measure that impact.

This downtime issue happen so many times already. Already give them so many chance. DBS just can't manage high volume.

Maybe instead of fine, it’s more of mandating DBS to set aside x amount equivalent to a supposed fine on their IT infrastructure only

 

[sglandscape]

Impact is still different. Fine should make them sit up more.

This downtime issue happen so many times already. Already give them so many chance. DBS just can't manage high volume.

It's not so easy or quick to resolve structural engineering issues due to possibly bad design, lack of understanding of how the systems couple together, or even the expertise who manage the systems have since retired. Add on the complexity of vendor management and it'll maybe take a year or even longer to overhaul the systems, in place.

 

[vsvs24]

It's not so easy or quick to resolve structural engineering issues due to possibly bad design, lack of understanding of how the systems couple together, or even the expertise who manage the systems have since retired. Add on the complexity of vendor management and it'll maybe take a year or even longer to overhaul the systems, in place.

Can understand that. But why they tell MAS they have made substantive progress only to have disruption a few days later.

 

[sohguanh]

Impact is still different. Fine should make them sit up more.

This downtime issue happen so many times already. Already give them so many chance. DBS just can't manage high volume.

If I dbs fine means monies go out. Later I need spend effort to earn back this is tedious. Locked easier becuz I behave good those monies unlocked for use I don't need spend effort to earn back those monies. Therefore locked monies is so much better than kena fine from bank perspective.

The other part you mention from financial standpoint locked monies still is within ownself just cannot touch yet. Fine is expense go out. Of cuz I bank I prefer locked.

 

[sglandscape]

Can understand that. But why they tell MAS they have made substantive progress only to have disruption a few days later.

It's typical PR speak, always appear more confident than reality might be, and demonstrate ability to manage and the situation is under control. Whether it really is, we would not know.

 

[kl2015]

It is not new isn't it? After sometime customers just get used to it. MAS can fine them so? They are rich not scared unless the fine is significant enough for them to buck up. Maybe they retract their dividends to pay off fine hahaha

u know they can just quit and leave right?
and let the other ppl solve it?

 

[reddevil0728]

u know they can just quit and leave right?
and let the other ppl solve it?

Who quit? N how certain that other ppl hired would be able solve it any better?

 

[simon_84]

u know they can just quit and leave right?
and let the other ppl solve it?

Some ED who are involved with last yr incident in may was asked to leave.
probably went through 2 rounds of restructuring.

 

[simon_84]

It's not so easy or quick to resolve structural engineering issues due to possibly bad design, lack of understanding of how the systems couple together, or even the expertise who manage the systems have since retired. Add on the complexity of vendor management and it'll maybe take a year or even longer to overhaul the systems, in place.

They are trying to decoupled the dependencies on each sub systems for the digital banking side.
Vendor management was bad with 1 of the big 4 SI.

 

[reddevil0728]

Some ED who are involved with last yr incident in may was asked to leave.
Ultimately my dept was under him and got restructured as well, probably went through 2 rounds of restructuring.

u sure you can share such info publicly?

 

[sglandscape]

u sure you can share such info publicly?

Don't think it's a secret given its in the open news of the organisation changes.

https://sbr.com.sg/news/dbs-apologises-digital-bank-disruptions-dock-senior-management-pay

They are trying to decoupled the dependencies on each sub systems for the digital banking side.
Vendor management was bad with 1 of the big 4 SI.

How easy would it be to do this? I have trouble believing an existing bank would be able to transition to new stack due to the immense effort and institutional knowledge required to pull it off. An SI can only help you so far, in terms of solutioning, project management and build.

 

[simon_84]

How easy would it be to do this? I have trouble believing an existing bank would be able to transition to new stack due to the immense effort and institutional knowledge required to pull it off. An SI can only help you so far, in terms of solutioning, project management and build.

The java stack will probably remain.

Some of the improvement projects are stuck due to budgeting.
Solutioning wise are mainly internal so far.

 

[reddevil0728]

Don't think it's a secret given its in the open news of the organisation changes.

https://sbr.com.sg/news/dbs-apologises-digital-bank-disruptions-dock-senior-management-pay

I referring to asked to leave part. The article like no say?

 

[sglandscape]

I referring to asked to leave part. The article like no say?

when people change or get a different / smaller portfolio, if you read between the lines you'll know it'll mean asked to leave. It's corporate speak for it.

 

[TehSi99]

"Closely monitoring the situation" is the winner.

 

[kl2015]

Some ED who are involved with last yr incident in may was asked to leave.
probably went through 2 rounds of restructuring.

thats they dun care

 

[kl2015]

Who quit? N how certain that other ppl hired would be able solve it any better?

the one singaporean criticise
the elite can just quit SG, talk bad,so that nobody want to replace them coz they know locals cannot really stand the pressure of the top job

they want to force Singapore govt to rely on foreign talent