FirstBank to transition to cloud-based system
By Esther Agbo
To enhance operational efficiency, FirstBank has announced plans to migrate its procurement and financial systems to a cloud-based platform. The migration, set to commence on Saturday, October 26, 2024, is expected to cause temporary service interruptions.
However, this transition is part of a broader trend among Nigerian banks as they upgrade their digital infrastructure to stay competitive in a rapidly evolving financial landscape.
FirstBank, which serves over 42 million customers, joins a growing list of major financial institutions in Nigeria that have adopted cloud technology in recent months. Since September, other top-tier banks, including Zenith Bank and Guaranty Trust Bank, have completed similar upgrades.
These system overhauls reflect a shift in the sector toward more agile and secure platforms, as the Nigerian banking industry faces mounting pressure to meet the demands of modern-day digital banking.
The bank stated, “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.”
In its recent announcement, FirstBank emphasised that the new system would enhance not only procurement processes but also overall service delivery.
The transition will span from October 26 to November 3, with the new platform going live on November 4. According to the bank, this change will bring additional benefits, including increased scalability and improved data management capabilities.
The bank has issued guidelines for vendors and suppliers, advising them to submit invoices for pending purchase orders by Friday, October 25, to avoid payment delays. FirstBank also noted that its current supplier portal will be retired by November 4, with further instructions on accessing the new system to follow.
The bank continued, “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.”
