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Singapore Makes Its Largest Bank Take a Technology Timeout

by Hataf Finance
1 minutes read

Updated Nov. 1, 2023 8:15 am ET

Singapore’s top financial regulator has lost patience with the city-state’s largest bank after repeated disruptions to its digital-banking services this year.

The Monetary Authority of Singapore on Wednesday barred DBS Group from acquiring new business ventures and making “nonessential” IT changes for six months, in effect stopping the bank from rolling out new technology initiatives until it proves its systems are in order.

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