Access Bank customers were left frustrated and stranded as an upgrade to its core banking application, Oracle’s Flexcube, triggered significant service disruptions. The upgrade, initiated Friday afternoon and intended to conclude Sunday, left millions of customers unable to conduct essential banking transactions, highlighting the challenges of managing rapid growth and technological modernization in Nigeria’s financial sector.
“All services were down until this morning,” one of the customers told Condia on Monday. “Yesterday after service, I was typically stranded due to a bank’s negligence. As a customer for years with this named financial institution, I am displeased and dissatisfied.”
Another customer said USSD services were unavailable all weekend. “It left me stranded,” they said.
The disruption underscores the risks associated with core banking system upgrades, particularly for institutions like Access Bank, which has aggressively expanded its footprint across Africa. With operations in 23 markets, a workforce that has quadrupled since 2019 to 28,000 employees, and a customer base exceeding 60 million, the bank’s data management demands have surged. In 2019 Access Bank had less than 7,000 employees.
On Friday, the bank commenced the second major upgrade of its core banking system after dilly-dallying on the process for two years. The upgrade, deemed critical by insiders to support Access Bank’s expansion strategy, follows a period of rapid acquisition and organic growth. The integration of acquired entities like Intercontinental Bank and Diamond Bank and continental expansion has placed immense strain on the bank’s legacy infrastructure. Core banking systems are central to data management, making the upgrade a critical undertaking.
The bank’s failure to provide adequate prior notice until Friday evening compounded the situation, contrasting with best practices for managing customer expectations during major technological changes.
Unsatisfied customers
While Access Bank has publicly declared the upgrade a success via social media, numerous customers continue to report unresolved issues, including delayed deposit postings.
This echoes the challenges faced by Guaranty Trust Bank during its migration last year, which resulted in significant customer dissatisfaction.
“We are all patiently waiting for their services to be fully restored. I haven’t received most of my deposits, “Eze Kenneth, an Access bank customer told Condia this morning. “The app service is yet to be restored and I cannot spend my money,” another frustrated customer added.
*This is a developing story
