FirstBank says reports about a full-scale system upgrade fixed for October 26 are incorrect, explaining that its recent announcement about moving to a new cloud-based platform was meant only for its suppliers, not its banking customers.
In a Friday statement, the bank explained that their message was misunderstood and incorrectly reported in the media. The change only affects the platform used to work with vendors.
“The message which was incorrectly interpreted and reported was sent to, and intended for our vendors only and focused on transitioning from our current I-Supplier Platform (our automated platform that connects us to suppliers) to a new Cloud-based Supplier Platform (worldclass platform for managing suppliers), to enable additional capabilities and benefits for our vendors.
“Please be informed that no system upgrade is currently underway, and all our customer applications are fully operational.
“We are not experiencing disruption to our services, and our banking systems, customer transactions, channels, etc, will not be affected by the enhanced supplier platform,” the statement read.
The bank reassured customers of its commitment to seamless service delivery.
The bank, which serves over 42 million customers, announced on Wednesday that this upgrade will start on Saturday, October 26.
Part of the initial notice read, “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.
“During the cut-over period, certain activities and transactions will need to be suspended to aid housecleaning and safe migration of transactions with minimal disruption.
“The cut-over period will be from Saturday, October 26, 2024, to Sunday, November 3, 2024, while the new cloud-based solution will be live on Monday, November 4, 2024, and normal activities will resume,” the bank stated.
The lender also noted that during the transition period, vendors would be unable to submit invoices on its current Electronic Business Suite.
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Payments will only be processed if invoices are submitted for received purchase orders by Friday, October 25, 2024, the lender noted.
FirstBank stated that its current supplier portal will no longer be in use effective November 4.
The bank will provide further communication on the details of the new Supplier Portal, along with a job card, ahead of the system’s go-live date on Monday, November 4, 2024.
“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,” the bank explained.
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