First Bank has put its customers on notice, as it transition to a new cloud-based procurement and financial platform to enhance operational efficiency and service delivery.
This migration is set to begin on Saturday, October 26, and is expected to result in temporary service disruptions, as mentioned in a Wednesday notice from the tier-one lender serving over 42 million customers.
This decision follows a series of recent disruptions in the Nigerian banking sector, with multiple financial institutions upgrading their core banking systems.
Since September, at least four major banks, including tier-1 lenders such as Zenith Bank and Guaranty Trust Bank, have switched their core banking applications.
The notice stated: “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.”
READ ALSO: First Bank unveils Digital Xperience centre for world-class banking in Banana Island
During the transition, vendors will be unable to submit invoices through the current Electronic Business Suite. Payments will only be processed for invoices submitted for received purchase orders by Friday, October 25, 2024.
Additionally, First Bank confirmed that its existing supplier portal will no longer be in use starting November 4.
The bank will provide more details about the new Supplier Portal and a job card before the system goes live on Monday, November 4, 2024. The cut-over period will run from Saturday, October 26, 2024, to Sunday, November 3, 2024, with normal activities resuming on the launch date.
Recall that the Bank recently opened its Digital Xperience center on Banana Island in Ikoyi, Lagos to provide world-class innovative banking services.
The bank stated that the center would be its fourth fully automated branch, providing customers with the desired banking experience.
It also stated that the Ikoyi centre “is a cutting-edge hub completely automated and interactive for self-service, eliminating the need for tellers or human staff.”
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