First Bank has just announced it’s jumping on the cloud bandwagon, following in the footsteps of other big Nigerian banks, in a move that’s supposed to make everything more efficient, yeah, sure. According to their grand plan, the bank is transitioning to a new cloud-based procurement and financial platform, starting Saturday, October 26, 2024. Expect disruptions, and lots of them. But don’t worry, they’ll be back up and running by Monday, November 4. Or so they claim.
Remember how similar “upgrades” by other major Nigerian banks, like Zenith and Guaranty Trust Bank, caused widespread frustration among customers? Zenith’s “upgrade” practically shut down their app, leaving millions of users scrambling, while GTB had its fair share of technical meltdowns. It seems the entire Nigerian banking sector is now racing to show off their shiny new cloud platforms, but they can’t seem to do it without breaking things along the way.
First Bank, which boasts over 42 million customers, sent out a notice on Wednesday, warning users about the impending disruption. It 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.” Translation: Expect to not be able to access certain services when you need them most.
From October 26 to November 3, 2024, First Bank will “cut over” to their new system, and during this period, some activities will be “suspended.”
Specifically, if you’re a vendor who needs to submit invoices, you’ll need to submit them before Friday, October 25. After that, you’ll have to wait for the bank’s new supplier portal to launch on November 4. And if you miss that deadline? Well, too bad for you.
But don’t worry, they’re planning to release more information, right before everything goes live. Apparently, vendors can expect details on the new Supplier Portal, job cards, onboarding, and training. Just cross your fingers that this doesn’t turn into another tech disaster, leaving you unable to make transactions or process payments when it matters most.
So, make sure you’re paying attention to this cloud transition, or you might find yourself stuck in the same mess that GTB and Zenith customers experienced. Consider this a warning.
