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DBS Massive Failure

>> Wednesday, July 7, 2010

DBS suffered a major IT outage on Monday that took down its computer systems for seven hours.

The problem surfaced at 3:00 a.m. (Singapore time) and was gradually restored from 10:00 a.m.

The outage affected all of DBS' consumer and commercial banking systems.

"The bank has multiple levels of redundancy to protect against such occurrences and this is the first time a problem of this nature has occurred. We are now conducting a full scale investigation with our main vendor IBM," said David Gledhill, managing director and head of group technology and operations at DBS, in the statement.

This looks like an occurrence of a black swan. With multiple checks and redundancy in place, yet this uncertainty this managed to happen and crippled the bank's entire banking system.

"What can go wrong, will go wrong." We need to expect the unknown and make sure we are adequately prepared when it does happen.




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