₦airaland Forum

https://techcabal.com/2024/10/22/gtbank-core-banking-switch/


On the morning of October 14, GTBank, a Nigerian bank with a market cap of ₦ 1.5 trillion, completed its switch to Finacle, its new core banking platform, a move that was a year in the making. A key part of the process of moving from its previous platform Basis involved GTBank’s tech team and engineers from Infosys, the Indian IT company that built Finacle, spending the previous weekend migrating customer data.

While the bank told its 32.8 million retail customers that they could complete transactions on October 14, the reality for customers was failed transfers and erroneous debit and credit alerts. Many customers complained on social media—those complaints have continued this week—even as the bank failed to share further updates since Wednesday.

Switching a core banking application takes several steps, but moving data and integrating channels are the most difficult. While the data migration was successful, integrating the bank’s channels (cards, online banking, and APIs) into Finacle was more difficult than the bank anticipated, one person with direct knowledge of the process said.


Despite round-the-clock efforts, the teams have not fully integrated all the channels into Finacle. An engineer at GTBank told TechCabal that the integration would be completed in the coming weeks but failed to give a definite timeline.


GTBank did not respond to a request for comments.

“Integrating channels into a new core banking platform is one of the trickiest parts of a core banking switch, especially for a bank like GT with many channels. Nobody can perform a banking transaction without channels,” a consultant for Temenos, one of the world’s largest core banking applications, told TechCabal.

“Some banks turn off all channels [during a core banking switch] for a seamless migration, but I guess GTBank could not afford to stop working,” the consultant added.


That theory may explain why GTBank did not restrict customer access to its banking services during the process. Instead, the bank allowed customers to transact without receiving debit or credit alerts during the data migration, which used data from the evening of Friday, October 11, a person with direct knowledge of the process told TechCabal.

Customers who processed transactions received the alerts only after the migration to Finacle was completed. Many GTBank users on X posted about erroneous transaction alerts the week after the migration.


GTBank’s struggles highlight the complexities of massive technological changes and show how expensive and time-consuming they can get. The planning before an actual switch begins can take up to one year, and banks can pay as much as ₦25 billion annually for software licenses.

Core banking consultants and engineers like the Infosys team typically get paid $50 daily besides accommodation, plane tickets, feeding, and the switching fee. “No cost was spared,” one person involved in the process told TechCabal.

Since the weekend of October 11, GTBank has accommodated its core banking team and Infosys engineers in hotels close to its Victoria Island headquarters. These teams are still in the process of integrating the bank’s various channels, even after working through the weekend and into the following week.

In one instance of exhaustion, an engineer left his team for a nap during the migration process, only to be woken up within 20 minutes by his colleagues who urgently needed his assistance.

Given the unknown timeline for successful integration, GTBank customers may need to brace for more frustration, especially as salary week approaches, when transaction volumes typically spike.

Though you're not GTB, but your words are re-assuring. Thanks

This is the 6th day and I and so many that I know, have still not been able to access our accounts.

That's about $10/ per household.
This is not the kind of paliative Nigerians expected o! _[/sub][sub]

SCAM!!!

Run ooo!!!
🏃🏃🏃🏃🏃🏃🏃🏃

Wetin go come happen now if Elon Musk say make payment be in crypto?
Wetin our Government, CBN and commercial banks go do??
Just thinking o!

My friend this is not bitcoin we are talking about here, it's the US Dollar$ please.


And what happens when the dollar crashes by this year ending[/quote]

tolufase:
This is what Nigerian ladies have reduced themselves to. One vividly told me early last month that I'm a wicked soul. When I asked what I have done, she said I was avoiding her due to the Yuletide period. Just imagined nairalanders.

ShitHead:
They came in the name of the King of Peace to fight a man resting in peace.

They' ve pissed on his peace and have seized the deceased's sleep..

Clerverly:
See better meat Just add enough pepper garlic, small ginger, and scent leaf..

It lowers BP ;Dand good for 5 -seconds men...

Saw the wreckage this morning ( around Kado- Life camp road just before the jayi- gwarimpa bridge) at about 7a.m. The FRSC towing truck was trying to tow away the wreck.
It was a very gory sight to behold. He crashed into a container off the road... I thought to myself that there was no way the driver would be alive after such a horrific crash.
RIP to the dead!

AbaganaMiracle:
All of you are fools thinking that these people are herders. These are terrorists coming in to assist in the fight of taking over Abuja. OyigboUpdate alias Udele, and Chukwuma Dike alias chukwuaustin, you are no longer safe in your hideout. I hope they catch you both first and slit your saboteur throats in broad daylight. Ikonso people are waiting for you back in Biafraland. You killed Ikonso and you must not go free.

Exactly, you are right...

I've been a proud subscriber to their YouTube channel since last year

Been doing same for the past 8 years and never had any issue. I use a 4kva Gen though!�

joey150:
Give a reason? A valid electrical reason why you cannot use your stabilizer and generator?

I've used mine for five years now, not one problem.
You can argue that it is redundant, but I'll like to know why you think it spoils anything.

Throwback:
Why is he lamenting when they were only looking for palliatives.

Next time, keep some palliative in the car for those whose birthright it is.

You are a thief and I pray you experience this.
May this prayer of mine come to pass in Jesus name!

It's so unfortunate that some of you guys reason with your brains churned inside out. So you think it's okay for your friends, the hoodlums, to move on to looting and robbing the hard working middle class next?
You and your likes are really St****pd and sensele*s to even show an iota of agreement by way of your reply to this thought.

If you have a family, I mean your own (kids and a wife with dependants) you will never type "Oga go and sit down" as you did. Your type and kind is a thief. Never wanting to work, but tactically and eagerly waiting to steal from the hard working ones.
Go get a life, learn a hand work, open up for business and invite your hoodlum friends to come clean up your business premises for you!
If you respond to me, then you'll just be confirming to me that you're indeed a lazy Nigerian youth.

bottlewater1:
oga go and sit down

12k, 2004. But chaiii d money get serious value those days o ..

bigjackass:
people that seat at the front with the driver in commercial bus

olisaEze:
This is what you get when square pegs are forced themselves into round holes.
Everyone now wants to be a low budget Abba Kyari.
If the President has approved his suspension, why not wait until he communicates his approval to their office?
A Minister that does not understand procedure will end up 'IbeKachikwuing' himself!

You no well, I swear

kingi777:
The IPPIS doesn't have any package for payment of allowances to lecturers. Therefore, It's only the basic salaries they now earn. So how does federal government expect them to call off the strike and diligently work when they are forcefully enrolled into IPPIS and striping them of some allowances that make their salaries tangible.


BEFORE YOU CRITICISE THE LECTURERS TAKE A LOOK AT THIS;

Take home salary for lecturers after IPPIS deduction without allowances:
PhD LII is #130,000
PhD LI is #163,000 plus min. 3 years post PhD
Senior Lecturer #235,000 plus min. 6years post PhD
Professor ��‍� #345,000 plus min. 10 years post PhD
Senior Professor ��‍� #423,000....
Minimum of 3years gap with hard work. Many spend as high as 5years before they can move up the ladder of promotions.

REMEMBER
From these peanuts of a pay;
They teach a crowd for a class
They supervise multitudes
They attend conferences from their pockets
They attend seminars from this peanuts
They write and publish articles in reputable journals (enquire the cost of publishing).....etc
They undergo rigorous stress to carry out research.
They spend minimum of 4 years in BSc
They spend minimum of 2 years in MSc
They spend minimum of 3 years in PhD (in Nigeria is near impossible they even spend upto 5 years and above).

Consider their rigours, the pain, the emotional trauma, physical drain, brain drain, intellectual drain they go through just to be qualified for their job specification...

I think our Lecturers work like elephants and earn like ants, they deserve a better pay or renumeration.

In terms of welfare:
You know that 50% of your lecturers don't have good offices/furnitures.
Most lecturers lack good working environment.
Most lecturers handle/teach a crowd of students yet they still try to deliver lectures in such environment (instead of the normal 30-50 students class size).
Most Lecturers supervise projects at their expense.
You want his best yet you deny him the best.

When you compare this salary with those of other Federal Govt agencies it's very very ridiculous.
If you compare it with Universities abroad then Nigeria �� salary scale for lecturers is infinitesimally small.

Before you criticise them;
First put yourself in their shoes.
Could you have studied to PhD just to earn #130,000?
Could you have invested the better part of your life upto Prof just to earn #345,000?
Think! They may not have been the best they should yet they are among the best in the world especially if they are giving the right environment to practice.

Before you criticise ASUU/Lecturers think.
Except you are happy with the state of the university system.

NO COUNTRY CAN GROW BEYOND IT'S VALUE FOR EDUCATION.

Copied and reviewed

Then this is the best time to start a side hustle!

Hisincrease:
Why Kill the girl after raping her? Why? Just Why?

I don't know what more to say but if I had the power the rapist will die everyday in 365days.

Why? Just why?

The act of killing her after been raped simply means one thing, she knows her killer(s).

xrucifix05:
How can other flight attendants assist you if don't give tips. Learn how to give tips, its gonna help you all the way.

Most sensible advice on this thread!!!!!������

But don't you know that it's the scammers that would later call, stating the information you filled in your submission and further ask for other details? The fact that you won't fall for it, doesn't rule out the possibility of so many others falling for it, whether they're gullible or not.

Don't drop your info or fill this form as the Federal Government has not published such.

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BrilliantGigolo:
Simp!
Just a letter of employment?? You never see salary and you don propose.

Your mama carry you for 9 months still come feed you. Your papa hustle , suffer so that you go fit see University.

Your Local Government Chairman work Npower Slot give you make hunger no kill you that time.

Baba God come pick your call and the only thing you remember is to propose and invite a liability into your life?

Not even a year of savings and planning?

May God not give us Kids like Op who will disgrace us over the internet.

Tueh

Chaiiii easy nau, this your response na "Epic Savagery at its peak o" !!!!

Allow me to Flex o!

Xilisoft

Ykc2:
please i want to buy it bring it to me in my area in Abeokuta by 11 pm then I will like to pay you cash

11pm?
Kidnapper sighted!!!!!

Liar !!!!!!!!!!!!!!!!! Which 5G
Oleeeee !!!!!!!

Roadtoyesterday:
5G

13days old Nokia 6.1plus for sale
Price is 55k last
Location Abeokuta
WhatsApp "070"33"26"61'93

tillaman:
I was thinking about French and Spanish kiss

Na im you come see Agege kiss

donbachi:
imagine opening the belly and u see 3 briefcases full of dollars.

That one go be mami water money o!!!
Just leave am as you see am o.

If you want to know how bad, addictive and dangerous gum is, check out this link:
https://www.youtube.com/watch?v=d4OyqoiF7Ag and
https://www.youtube.com/watch?v=0B_vZCLDs-M