The news:
- Guaranty Trust Bank (GTBank) has announced a temporary disruption of its in-person services as it transitions to a new core banking application system.
- Starting on Friday, October 11, 2024, the bank will implement an upgrade to Finacle Core Banking, a robust suite of software aimed at improving service delivery and overall customer experience.
- This upgrade, which will end on Monday, October 14, will affect both in-branch and digital banking operations.
In a press release, GTBank notified its customers that all branches will close at noon on October 11, reopening at 9:00 a.m. on October 14.
Digital banking services, including transfers, bill payments, and airtime/data purchases, will still be available during the migration process, but other functionalities will be limited for 11 hours, from 10:00 p.m. on Sunday, October 13, to 9:00 a.m. the next morning.
GTBank assured its customers that this transition is part of the bank’s commitment to enhancing the quality of customer interactions by leveraging advanced technology.
“We apologize for any inconvenience this may cause and appreciate your understanding during this period,” the bank stated while emphasising that the move will help drive digital transformation and improve overall service delivery.
Customers have been advised to plan their transactions ahead of the scheduled shutdown.
The bank also recommends avoiding any banking activities between the transition window of Friday afternoon and Monday morning to prevent disruptions.
GTBank has highlighted that it will maintain constant communication with customers throughout the process.
GTBank is not the first major Nigerian bank to undertake a core banking system upgrade.
Similarly, Access Bank announced a similar migration earlier on Wednesday, October 9, 2024, scheduled for Saturday, October 12, to enhance its banking infrastructure.
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During its upgrade, Access Bank will shut down services for several hours, with customers encouraged to avoid online banking transactions during the transition period.
Other banks, including Zenith Bank and Sterling Bank, have also embarked on system upgrades this year to improve operational efficiency and customer service.
With multiple Nigerian banks upgrading their systems, the industry is moving towards more advanced banking platforms to meet the rising demands of modern banking.
The Central Bank of Nigeria (CBN) has reportedly encouraged this shift as part of a broader effort to strengthen the nation's banking infrastructure.