See date and time First Bank will experience temporary service disruption

1 month ago 1

First Bank has scheduled a system upgrade that will temporarily disrupt certain banking services
The financial institution said it is migrating a new cloud-based procurement and financial platform
Since September, at least four major banks in the country have switched their core banking applications, they are Zenith Bank and Guaranty Trust Bank

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

First Bank, one of Nigeria's leading financial institutions, has announced a scheduled system migration that will temporarily disrupt certain banking services.

In an email targeted at vendors, First Bank said it will transition to a new cloud-based procurement and financial platform.

The bank said the migration will begin on Saturday, October 26, and vendors cannot submit invoices on its current Electronic Business Suite, Punch reports.

The bank wrote:

"As part of the Bank’s ongoing efforts to enhance operational efficiency and service delivery, we are transitioning from our current Procurement and Financial Platforms to a new Cloud-based system that offers expanded features and benefits."During the transition period, certain activities and transactions will be temporarily paused to ensure a smooth and secure migration with minimal disruption."The transition will take place from Saturday, October 26, 2024, to Sunday, November 3, 2024, and the new Cloud-based platform will be fully operational starting Monday, November 4, 2024, when normal operations will resume."

The lender also informed us that during the transition period, vendors will be unable to submit invoices through its current Electronic Business Suite.

Payments will only be processed for invoices submitted for received purchase orders by Friday, October 25, 2024.

Furthermore, FirstBank announced that its existing supplier portal will be discontinued as of November 4, 2024.

The bank will share additional details about the new Supplier Portal, including a job card, ahead of the system's go-live on Monday, November 4, 2024.

The bank explained.

“Kindly note to take proactive steps as indicated above to avoid business disruption during this critical period. Further details regarding onboarding, training, and user guides will be communicated before the end of the week."