Guaranty Trust Bank (GTB) has informed its customers about an upcoming migration to a new core banking application system, which will result in temporary disruptions to banking services.
The transition to the advanced Finacle Core Banking Application Systems is scheduled to begin on Friday, October 11, 2024, and is expected to conclude by Monday, October 14, 2024.
In a notice from the bank, all GTBank branches across the country will close early to customers at 12:00 p.m. on Friday, October 11, and will reopen at 9:00 a.m. on Monday, October 14.
Additionally, there will be temporary interruptions to the bank’s digital banking services for 11 hours, starting at 10:00 p.m. on Sunday, October 13, and ending at 9:00 a.m. on Monday, October 14.
During this time, customers will still have limited access to perform transactions via GTBank’s digital channels, including transfers, bill payments, and airtime/data purchases, though other services will be unavailable.
GTBank emphasized that this migration is part of its commitment to enhancing customer experiences through technology. In the notice, the bank stated:
“This transition will enable us to drive digital transformation, achieving insights-driven and frictionless interactions at all our Customer Touchpoints, thereby improving the quality of service we provide.”
The bank assured customers that updates will be provided throughout the process and expressed apologies for any inconvenience caused, seeking their understanding.
Many Nigerian banks are currently upgrading to new core banking platforms to enhance service delivery. Recent reports indicate that customers of tier-2 Sterling Bank faced several days of disruptions earlier in September due to a system migration from T24 to SEABaaS, a custom-built core banking application developed locally.
Similarly, customers of Zenith Bank experienced significant service outages on October 1, later attributed to a ‘routine IT maintenance’ as the bank transitioned from its Phoenix software, developed by London-based Finastra, to Oracle’s Flexcube. Industry experts have noted that migrating to a new core banking application is a complex process that may take time for banks to stabilize post-migration.