DBS crisis management -...

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DBS crisis management: What happened to personal  touch?  BY KENNY CHEE THE DBS systems-breakdown debacle last month, which crippled its consumer- banking services for hours, left many customers reeling and also feeling that a personal touch was lacking in the handling of the matter. Furthermore, the Monetary Authority of Singapore (MAS) on Wednesday censured the bank and said that it expected DBS "to take steps to improve its customer- communication process and ensure timely communication with stakeholders with immediate effect". Photos: Services restored at POSB Click on thumbnail to view   Looking at the sequence of events might shed light on why MAS made such a statement. The ATM, credit-card and Nets payment and online-banking services broke down as a result of an incorrect procedure that was repeatedly applied by DBS' vendor, IBM. At 3am on July 5, DBS was informed and both parties tried to remedy the problem. It was only from 6.30am that DBS began to communicate the problem to its staff. By
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DBS crisis management -...

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