If you are a GT Bank customer, you’ve likely dreaded opening your bank app in the past seven weeks. The Nigerian tier-1 bank, with over 32.8 million retail customers, has faced significant backlash as its migration to a new core banking software, Finacle, triggered service disruptions that are yet to be fully resolved.
Across social media, complaints have poured in: incorrect account balances, unauthorized debit and credit alerts, and outright inaccessibility of services. For many, even routine transactions became a gamble, forcing customers to think twice before sharing their GT Bank account numbers.
On October 14, the bank closed its 235 branches nationwide, citing delays in the migration process that took “longer than planned.” While technology overhauls are inherently complex, GT Bank’s execution has raised questions about its preparedness for such a significant shift.
The migration to Finacle was necessary for GT Bank which needed a technology that allowed it to stay nimble and provide customisable core banking technology services that catered to all its banking needs.
The migration was finalised in October 2024. Yet, the hiccups continued into November.
After weeks of silence, GT Bank has now apologised to its customers for the network problems over recent weeks. It’s the bank’s first public statement since the service disruption started weeks ago. Unfortunately, the apology contained no information about improvements.
For GT Bank, the road to recovery will require more than restoring technical stability. Transparent communication, improved customer service, and visible efforts to prevent future occurrences will be key. For now, customers can only hope the bank’s next announcement is not another apology, but a definitive end to the disruptions.
