Topic: First Bank shuts operations Thursday, reopens Monday  (Read 1837 times)

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First Bank shuts operations Thursday, reopens Monday
« on: June 05, 2013, 10:15:16 AM »

Group Managing Director/Chief Executive Officer, First Bank of Nigeria Plc, Bisi Onasanya

Customers of First Bank Limited may find it difficult to carry out some banking transactions from Thursday to Monday due to the decision to shut down the bank’s branches nationwide during the period.

The shutdown, according to the bank, is to enable it upgrade its core banking application from Finacle 7 to Finacle 10, which will ensure easier and faster customer services and experience.

Our correspondent gathered that the decision to shut down operations in order to facilitate the migration to Finacle 10 would affect the bank’s over 700 branches nationwide.

Apart from all the branches being shut, Point of Sale transactions and transaction alerts by Short Message Service will not be possible during the period. In addition, all card services, except Visa prepaid card, will not be available via Quick Teller and the Web.

First Bank said in an explanatory note, “All transactions that will impact on the banking platform e.g. settlements, inter bank (RTGS, NEFT, FIP) inflows, will not be available.”

However, the bank said skeletal services would be available on its ATMs throughout the migration period until 5pm on Sunday, and would be restored at 6am on Monday.

Online banking services, according to the bank, will also be available until 5pm on Sunday and be restored at 6am on Monday, while its mobile money services will be available throughout the migration period.

The bank had notified its customers through SMS and email of the development and apologised for inconveniences that they might suffer as a result of the platform upgrade.

The Group Managing Director, First Bank, Mr. Bisi Onasanya, said in an open letter to the customers, “I write to thank you for your continuous patronage and inform you of our plan to upgrade our core banking application as part of the ongoing transformation of the bank.

“I am particularly excited at the prospect of this milestone as it represents the opportunity to significantly transform our service delivery to you in many respects, while also supporting our plans for the introduction of new and innovative products as we anticipate your every banking need.

“This is a major project and on account of the technical requirements, we regret that there will be some disruptions to our services for about three days, while the upgrade is ongoing.”

Onasanya said only intra-bank transactions would be available on the alternative channels while the upgrade was going on, adding that the clearing of customers’ might also be slightly delayed but that all investments due on any transaction within the period would only be terminated when all services were restored without affecting the value dates or the value of accrued interests on such investments.

However, the decision is causing anxiety among the customers of the bank, who complained that the planned shutdown would further compound the problems they had been coping with lately in accessing the institution’s services.

For instance, customers have been complaining of not being able to draw cash from the bank’s Automated Teller Machines for sometime now, while money transfers to other banks from First Bank branches have been difficult in the last two weeks.

When contacted, the spokesman of the Central Bank of Nigeria, Mr. Ugo Okoroafor, said he was not aware of the plans by the bank to close its branches and urged our correspondent to call back to enable him make enquiries.

However, subsequent calls and SMS sent to his mobile telephone line were unanswered as of 9.30pm when this report was put together.


-- Punch

First Bank reopens after system upgrade
« Reply #1 on: June 11, 2013, 09:47:56 AM »
Customers of First Bank Limited on Monday expressed relief following the commencement of operations by the financial institution five days after it closed its over 700 branches nationwide.

The shutdown of the branches from Thursday to early Monday was to enable the bank to upgrade its core banking application from Finacle 7 to Finacle 10 so as to facilitate easier and faster customer services experience.

Customers, who had difficulties using the alternative channels provided by the bank to carry out their normal banking transactions during the period of the closure, trooped to different branches on Monday.

Our correspondent, however, observed in some of the branches visited that normal banking operations had fully resumed.

A customer at the Ikeja Central Business District branch, Mr. Francis Ilemobayo, said it was too early to assess the effectiveness of the migration to the new platform since Monday was the first day that it would be put to test.

Another customer at the Lagos Airport Road branch, Mrs. Emily Acholonu, said she was left stranded on Saturday as she could not transfer money to her customer in Enugu because the Automated Teller Machines and online banking did not work.

She advised other banks to always carry out such system upgrades on weekends so as not to cause serious disruption to customers’ businesses.

First Bank said in a statement on Monday that it had successfully concluded its upgrade to the Finacle 10 banking application, thereby paving the way for enhanced services and bespoke financial solutions for its customers across the globe.

The Head, Marketing and Corporate Communications, First Bank, Mrs. Folake Ani-Mumuney, said in the statement that it had resumed normal operations after the successful upgrade, which she stressed marked the beginning of a new era of enhanced customer experience and service excellence in the bank.

Ani-Mumuney said the bank was particularly grateful to customers for their patience and understanding during the upgrade process.

She said, “We are delighted to inform our customers that the Finacle 10 banking application is now live and we will like to express our gratitude to our customers all over the world for the opportunity we have to serve them.

“The upgrade has put us on a higher pedestal of service excellence as we pledge our continued resolve to serving our customers with passion and cutting edge technology.”

A senior official of the bank had earlier told our correspondent that the hitches witnessed on the alternative channels during the period of shutdown were as a result of the fact that over five million customers were trying to use the channels at the same time.

When contacted, the Director, Corporate Communications, Central Bank of Nigeria, Mr. Ugo Okoroafor, said the bank was unlikely to have suffered significant loss during the closure because it professionally communicated its plans to the customers, the regulatory bodies and other stakeholders.

He said, “In every human endeavour that progress is desired, there will be occasional pains. First Bank has taken its processes to another level with the platform upgrade and customers will be the ultimate beneficiaries.

“With the way it handled the publicity, customers and regulatory authorities were kept in the picture. What has happened is that the payment system is being improved upon.”


-- Punch

 

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