Customers of Guaranty Trust Bank (GTB) have been voicing their frustrations regarding ongoing downtimes that have severely limited access to banking services, even though the bank recently announced the completion of its transition to a new core banking application. These frustrations have been voiced by both individual and corporate clients alike. Many customers have reported being unable to carry out transactions through the bank’s digital platforms for several days following this transition. This disruption has had a knock-on effect, with corporate clients advising their customers to utilize services from other banks in light of GTB’s service interruptions.
As the situation unfolded, the digital platform i-invest took to its communication channels to inform its customers of ongoing issues with GTB, Zenith, and Access Bank due to system upgrades. In an email reminder, i-invest recommended that users find alternative banks to complete their transactions, underscoring the magnitude of the disruption and the breadth of its impact across banking services. This highlights a critical moment where the ripple effects of one bank’s system upgrade can significantly influence the operational capabilities of other financial entities as well, thereby causing inconvenience for a wide array of clients reliant on these services.
In an effort to reassure customers, GTB announced on a Tuesday evening that it had successfully transitioned to a new core banking application and that all branches would remain open until 6 PM to better serve customers in light of the ongoing challenges. This announcement was made in conjunction with a promise to rectify existing issues and serve its clientele effectively. Despite this declaration of success, many customers remained skeptical, still grappling with the practical implications of the reported downtime, which cast doubt on the integrity of the newly implemented systems.
Earlier in the week, GTB made a public announcement regarding the early closure of its branches in line with the transition process, indicating that there would be significant interruptions to available digital services. This included a planned downtime window that was communicated to customers, specifying that digital channels would be temporarily unavailable for a total of eleven hours. While the bank attempted to relay a sense of stability to its clients, the abrupt interruptions underscored the challenges tied to technological transitions, particularly in a banking environment reliant on constant accessibility.
The broader implications of these disruptions have reverberated through the banking sector in Nigeria, where other banks have similarly announced downtimes due to both planned and unplanned system upgrades. Furthermore, ongoing issues with the Nigeria Inter-Bank Settlement System have compounded these troubles, leading to heightened dissatisfaction among customers. As multiple financial institutions upgrade their core banking systems over the coming weeks, it is likely that further disruptions will occur, causing continued customer frustration as they navigate the complexities of transactions.
As GTB and other banks endeavor to enhance their technological frameworks, it remains crucial for these institutions to effectively communicate with their customers, ensuring transparency and responsiveness during periods of transition. The current frustrations expressed by customers reflect a significant vulnerability within the banking sector that can undermine trust and reliability. Therefore, as financial institutions embark on upgrades and technological improvements, the focus must also span to customer satisfaction, ensuring that clients remain informed and supported throughout the process to foster long-term loyalty even amidst temporary inconveniences.
