GTBank apologises for service disruptions amid core banking system transition

Guaranty Trust Bank Limited (GTBank) has apologised to customers following widespread service disruptions caused by its recent migration to a new core banking system, the Finacle Suite.

In an X post addressed to its customers on Wednesday, the bank acknowledged the delays in transaction processing and interruptions that affected personal and business activities.

The upgrade, aimed at enhancing agility and adaptability while improving customer experience, encountered challenges that disrupted normal banking operations.

“When we began the process of implementing the new Finacle Suite of Core Banking Application Systems, our goals were clear: to remain agile as we grow, adaptable, and most importantly, to improve your service experience. Yet, we must humbly acknowledge the challenges along the way. The process, though necessary, brought with it delays in transaction processing and interruptions to what should be seamless service and we sincerely apologize for this.

“We recognize how deeply this period of service disruptions affected your personal activities and business operations, and we thank you for standing with us through it all, offering grace in times of frustration,” it said on Wednesday.

GTBank assured customers that its commitment to delivering a seamless banking experience remains unwavering.

The bank expressed gratitude for the patience and support of its clientele, describing their trust as “the foundation on which we stand.”

The post comes after weeks of customer complaints over slow service delivery, with many expressing frustration at the delays.

For more than a month, customers of Guaranty Trust Bank (GTBank) have been caught in a cycle of frustration and financial distress, as ongoing issues with the bank’s core system migration continue to disrupt access to funds and basic services.

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Nigerian banks have been undergoing core banking system migrations to enhance their technological infrastructure. GTBank, which began its transition on 11 October, faced delays, extending the scheduled reopening of its services from 9 a.m. to noon on 14 October.

While the bank announced the completion of the migration later that day, many customers reported issues, including login failures, inaccurate account balances, vanished funds, and unauthorised deductions.

The disruptions have caused significant frustration, particularly as salary payments are due this week, undermining the bank’s assurances of improved digital capabilities.

The bank’s management stated that every effort moving forward would be driven by the need to uphold the highest standards of service and ensure lasting relationships with its customers.