An apology has been issued by a Nigerian bank with a large customer base of 32 million for a seven-week service disruption resulting from a switch in its core banking application. This switch caused inconvenience to customers who were unable to access their funds.
The bank expressed gratitude for the patience and support received during the transition to the new core banking system. It was confirmed that the bank had migrated to Finacle, a core banking application developed by Infosys.
This marks the first public apology from the bank regarding the prolonged disruption that affected many retail customers due to the substantial customer base and deposits valued at ₦7 trillion.
One customer shared their experience of being unable to access funds for seven weeks, relying on the web app as the banking app was non-functional.
GTBank’s decision to choose Finacle as its new core banking application was made in late 2023 after key executives and the tech team visited India to establish a partnership with Infosys.
While the core banking transition is essential for enhancing service delivery, the disruption in service contradicted the primary purpose of banking, which is to ensure customers can access their funds promptly.