GTBank glitch worries customers as salary week nears

The recent core banking system, Finacle, transition GTBank has resulted in significant disruptions for millions of clients, who are facing issues like failed transactions and delays in alerts. As salary week approaches, concerns are mounting over the bank’s ability to provide reliable services during one of the busiest financial periods of the month.

The transition, which has been in the works for over a year, involved GTBank’s technical team collaborating with experts from Infosys, the company behind Finacle. In the frantic days leading up to the switch, the teams worked tirelessly to migrate customer data from the old system, Basis. Although the data migration was successful, integrating essential services—such as online banking, card transactions, and APIs—into the new platform has proven to be more challenging than anticipated.

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Customers were assured they could continue their transactions during the upgrade, but many found the experience far from seamless. Reports of failed money transfers and missed alerts flooded social media. “I attempted to make a transfer, but my money simply vanished for days without any warning. I didn’t even know if the transaction went through,” one frustrated client shared on social media, reflecting the sentiments of many.

GTBank has not provided a clear timeline for when services will be fully restored. Insiders suggest that the complete integration of systems may take weeks, leaving customers in limbo without definitive updates. “It’s frustrating,” lamented another client. “I understand things take time, but the silence from GTBank has made it worse.”

Industry experts are weighing in on the situation, emphasizing the complexities banks face during system migrations. “These migrations are complex, especially for a bank as large as GTBank,” noted a consultant from Temenos, a leading provider of banking software. “Shutting down services entirely during migration is one option, but GTBank chose to keep everything running, which seems to have contributed to these issues.”

The decision to maintain operational services during the migration led to further complications, with many customers receiving alerts for transactions that had not been completed. “I woke up to see random credits in my account—it felt like someone else’s money landed there,” one user posted on Twitter, adding to the confusion surrounding the switch.

Behind the scenes, GTBank and Infosys engineers are working around the clock to resolve the integration issues. Sources reveal that software licensing alone could cost the bank up to ₦25 billion annually. With consultants and engineers working under tight deadlines, many are staying in nearby hotels to ensure they can address any problems quickly.

As salary week approaches, customers are particularly anxious about the potential for further complications during peak time for transactions. With no immediate resolution in sight, GTBank customers are bracing themselves for continued inconveniences.

For now, customers are left hoping that the growing pains of this major technological upgrade will soon be resolved. “All we need is more communication from the bank,” one customer expressed. “Please let us know what’s going on. We can handle delays better if we’re kept in the loop.”