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DBS Bank chief executive Piyush Gupta has apologised for the bank's digital service outage a week ago that angered and irritated scores of customers.

He told the Reuters Next conference on Friday, Dec. 3: "The customers have the right to expect more from us and I share their frustration and their pain."

He also said the bank will conduct a full review of its processes following its worst disruption in one decade as customers were locked out of their accounts and could not make payments for at least two consecutive days.

Gupta added that customer expectations rise as banks get more digital and technologically advanced.

He said the bank will come up with ways to do better.

Background

DBS ibanking services went down on Nov. 23, which caused customers to be unable to log into bank services.

The bank said it encountered issues with its access control servers.

On Nov. 24, despite an update that the problem had been resolved, they resurfaced in the morning.

Shee Tse Koon, Singapore Country Head at DBS Bank, put up a video message on the second day of the outage assuring bank customers that their deposits and monies with the bank were safe.

DBS then said on Nov. 25 that logins and transaction activities had returned to normal that morning, but some customers still faced issues.

The Monetary Authority of Singapore (MAS) said it would consider taking "supervisory action" over the outage.

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