SINGAPORE: OCBC Bank said on Tuesday (Sep 4) that a software failure caused the service disruption that happened on Saturday night.
The disruption, which started from 8.45pm that night, affected all of OCBC's banking channels, including its ATMs, credit card transactions, as well as mobile and online banking services.
AdvertisementOCBC Group CEO Samuel Tsien said in a statement on Tuesday that the bank had identified the root cause of the disruption.
"A software failure in the backup unit for the core banking system resulted in the customer transaction data not being successfully transferred. This caused the storage in the core banking system to reach its maximum capacity and to stop accepting new transaction data," he said.
"The software failure signal was unfortunately not detected for rectification due to a human oversight. As a result, the core banking system was not able to function properly, which affected our ATM network, online banking channels, NETS and card services."
Mr Tsien said the bank made sure that all customer and transaction data was protected as it restarted the system to restore the services.
AdvertisementAdvertisementBanking services resumed progressively from around 11.30pm onwards and eventually all services were restored by 12.30am.
Mr Tsien assured its customers that the bank has put in place measures to prevent any future recurrence.
"The service disruption was totally unacceptable," he said.
"I am grateful for the patience and understanding of our customers and I would like to sincerely apologise to all our customers again for the inconvenience that this incident has caused them."
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