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First Bank of Nigeria Ltd. has clarified that its scheduled transition to a new cloud-based procurement and financial platform will not affect banking operations.
It was reported that the bank announced plans to transition to a new cloud-based procurement and financial platform as part of its ongoing strategy to improve operational efficiency and service delivery.
The migration, scheduled to begin on Saturday, October 26, is expected to result in temporary service disruptions, the tier one lender with over 42 million customers said in a Wednesday notice.
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The move came amid a wave of recent disruptions in the Nigerian banking sector, as several financial institutions undergo upgrades to their core banking systems.
Part of the notice read, “As part of the bank’s continuous investments to improve operational efficiencies and service experience, we will be transitioning from our current procurement and financial platforms to a new cloud-based platform that provides additional capabilities and benefits.
“During the cut-over period, certain activities and transactions will need to be suspended to aid housecleaning and safe migration of transactions with minimal disruption.
“The cut-over period will be from Saturday, October 26, 2024, to Sunday, November 3, 2024, while the new cloud-based solution will be live on Monday, November 4, 2024, and normal activities will resume,” the bank stated.
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However, in a statement on Friday, Folake Ani-Mumuney, group head of marketing and corporate communications at FBN said the upgrade will not affect banking services, such as digital transactions.
Ani-Mumuney said reports had misunderstood its message to vendors about the transition from their current platform, I-Supplier — an automated platform that connects FBN to suppliers — to a new cloud-based supplier medium.
”There is no plan for systems upgrade for customers applications which are fully operational.
”The bank is not experiencing service disruptions and its banking systems, customer transactions and other channels, will not be affected by the planned enhanced supplier platform.
“We wish to address a misleading report circulating in the media regarding a system upgrade at FirstBank.
“The message which was incorrectly interpreted and reported was sent to, and intended for our vendors only and focused on transitioning from our current I-Supplier Platform (our automated platform that connects us to suppliers) to a new Cloud-based Supplier Platform (worldclass platform for managing suppliers), to enable additional capabilities and benefits for our vendors.
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“Please be informed that no system upgrade is currently underway, and all our customer applications are fully operational.
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“We are not experiencing disruption to our services, and our banking systems, customer transactions, channels, etc, will not be affected by the enhanced supplier platform,” she said.
The bank assured its customers of its commitment to seamless service delivery.
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