Guaranty Trust Bank (GTBank) customers have continued to face service disruptions as the bank transitions to a new core banking application system. Despite the bank’s announcement that it has successfully completed the upgrade, many customers report ongoing difficulties accessing digital banking services.
For several days, both individual and corporate customers have struggled with GTBank’s digital platforms, leading to frustrations over their inability to carry out transactions. The disruptions began following the bank’s transition to the new system, which was intended to improve service delivery but has instead led to prolonged downtimes.
Corporate clients have been particularly affected, with some advising their customers to use other banks for transactions due to GTBank’s persistent downtime. One such client, digital investment platform i-invest, sent an email to its users on Tuesday, urging them to consider alternative banks. The message stated, “Following our previous update, GTB, Zenith, and Access Bank are still experiencing downtime due to ongoing system upgrades. This is impacting the processing of deposits and withdrawals through these banks on i-invest. To avoid delays, we recommend using other banks available for your transactions.”
GTBank had earlier informed the public that it had successfully transitioned to a new and more robust banking system. In an announcement made on Monday evening through its social media channels, the bank assured customers that all branches would stay open until 6 p.m. to assist with their needs. The statement read, “We have successfully transitioned—all our branches are now open till 6 p.m. to serve you. We are pleased to inform you that we have successfully transitioned to a new and robust suite of Finacle Core Banking Application Systems, and all our branches will be open till 6 p.m. today to serve you.”
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The bank’s transition efforts included early closure of branches last week and a temporary suspension of digital services. All GTBank branches across Nigeria closed early last Friday as part of these efforts, while the bank announced a planned service outage. It informed customers, “Our digital channels will be temporarily unavailable for 11 hours, from 10:00 PM on Sunday, 13th October to 9:00 AM on Monday, 14th October 2024, as part of a scheduled transition process.”
GTBank is not the only financial institution undergoing system changes. Other banks in Nigeria, including Zenith Bank and Access Bank, have also reported downtimes due to planned upgrades or unplanned issues affecting the Nigeria Inter-Bank Settlement System (NIBSS). As banks modernize their core banking infrastructure, customers are likely to experience further disruptions in the coming weeks.
The service interruptions have caused inconvenience for many bank customers across Nigeria, who rely heavily on digital banking platforms for their daily transactions. As the bank continues to address these issues, customers hope for a swift resolution to restore normal banking services.