Stanbic IBTC Bank in core banking system upgrade
Stanbic IBTC Bank in Nigeria is upgrading its core banking system, Infosys’ Finacle.
The new version of the system will go live on 16 May, 2016 – but in the run-up to this the bank will be limiting its operations over the weekend 13-15 May.
Stanbic IBTC will close its branches to customers on Friday afternoon and reopen then on Monday morning.
Self-service and digital channels will be suspended on Friday night until Monday morning.
The cutover window is set to start at midnight on Saturday and finish on Sunday noon. During this period, customers will not be able to carry out any transactions across any channels.
Stanbic IBTC is a member of a pan-African financial services group, Standard Bank. The group uses Finacle as its main core system across its locations outside South Africa (where the group’s HQ is based).
Stanbic IBTC signed for Finacle in 2009 to replace the legacy Equinox solution from Neptune Software. It went live with the new platform in mid-2011.