By now, a lot has been written about what went wrong at DBS when its ATM and Internet banking systems went kaput for a while. This is a gd balanced article.
But I’m disappointed that no-one has pointed out that the failure shows that DBS tries to avoid telling the public and its customers things that negatively impact its image, while quickly giving out news that puts it in a good light. I find it strange that DBS could inform 10,000 of its customers that systems had been restored, yet failed to inform these same 10,000 customers that there was something rotten at DBS.
Next, while it kept the media informed of what it was doing to fix the problem, it didn’t alert the media immediately when it knew that there were going to be problems for its customers. The media could have advised DBS customers not to use the ATM machines and other affected services, making it a bit more convenient for customers.
Investors can reasonably wonder if DBS’s investor relation team will apply the same principles of “Delaying the release of bad news, while accentuating the good news”. Here’s hoping I’m wrong.