Guaranty Trust Bank has issued a public apology to its customers following a seven-week disruption in services caused by its migration to a new core banking system.
The transition, which began in October, left customers unable to access their funds and prompted widespread complaints of erroneous debit and credit alerts.
“Your patience and support during this recent transition to a new core banking system have been nothing short of extraordinary,” the bank said in a statement released on Wednesday.
This marks the first time GTBank has publicly addressed the extended outage, which affected its 32.8 million retail customers and ₦7 trillion in deposits.
The bank confirmed that it migrated to Finacle, a core banking application developed by Indian tech giant Infosys, as part of efforts to modernize its operations.
The decision to switch followed visits by GTBank’s top management and tech team to India to secure a direct partnership with Infosys.
However, the transition has not been without significant challenges. Many customers expressed frustration over the prolonged disruption.
The inability to access funds or complete transactions during the transition undermined the core promise of banking—providing customers with consistent access to their money.
Despite the long-term benefits the new system is expected to bring, the extended disruption has left a dent in customer trust.
