Update: We Will Be Suspending DBS Syncing Indefinitely
To all the affected DBS-Seedly app users, we appreciate your understanding and patience on this matter.
We’re also heartened by all the messages you have been sending in with regard to getting a full picture of your finances.
- As a team, we made the difficult decision to suspend DBS syncing on the platform
- The main reason for this is because DBS recently updated their policy on third-party applications
- However, you will still be able to use Seedly as a manual expense tracking, account management and community app
- For users of all other banks, you can still sync all your accounts and transactions on Seedly (e.g OCBC, UOB, CITI etc.)
- For all affected DBS users, we will be releasing an app update next week, which will allow you to continue adding transactions and editing your balances of your previously auto-synced accounts
We started with a mission of helping our users make smarter financial decisions by giving them an overall picture of their finances. And we will continue to look for opportunities to further this mission and grow as your trusted partner in making sense of your personal finance journey, here in Singapore.
If you do have any queries, please do not hesitate to reach out to us at [email protected]. Thank you!
Yesterday, DBS sent out an email regarding the importance of keeping your login credentials secure.
We have met with representatives of DBS last week to discuss this issue, and both organisations are fully aligned that online security is of utmost importance to all of our users.
To be clear, Seedly does not ever store your login credentials. That is why 2FA login is required every time you sync your accounts on the Seedly app. In addition, the sync process is PCI DSS and ISO27001 compliant and provides only read access to your transactions.
PCI DSS – A data security and compliance program
ISO27001 – An information security standard which governs how companies manage sensitive information and assets
Seedly is wholly confident in the security measures that we have put in place. In fact, we undertake frequent and comprehensive penetration tests and security audits by third-party cybersecurity agencies. That is why we are fully assured of the security of our information and data systems.
However, after consultations with DBS, both parties have agreed to suspend the syncing and one-time transaction imports for DBS accounts until further notice.
What Happens Next?
You will still be able to access all your previously synced transactions and accounts. Naturally, you will continue to have access to all other functions and features on the Seedly app, including manual expense tracking, account management, community, and content.
We started with a mission of helping our users make smarter financial decisions by giving them an overall picture of their finances. And we will continue to look for opportunities to further this mission and grow as your trusted partner in making sense of your personal finance journey, here in Singapore.
If you have concerns regarding our security and data policies, please do not hesitate to reach out to our Data Protection Officer at [email protected]
Thank you and have a great week ahead!
