First Bank has announced plans to transition to a new cloud-based procurement and financial platform, aimed at enhancing operational efficiency and service delivery. The migration, scheduled to begin on Saturday, October 26, 2024, will result in temporary service disruptions.
The bank, with over 42 million customers, notified its customers and stakeholders through a notice released on Wednesday. This development comes amidst recent upgrades in the Nigerian banking sector, with several financial institutions updating their core banking systems.
According to the notice:
“As part of our continuous investments to improve operational efficiencies and service experience, we will transition from our current procurement and financial platforms to a new cloud-based platform offering additional capabilities and benefits.
“During the cut-over period (October 26 to November 3, 2024), certain activities and transactions will be suspended to ensure a seamless migration. The new cloud-based solution will go live on Monday, November 4, 2024.”
Key points:
- Vendors cannot submit invoices on the Electronic Business Suite during the transition period.
- Payments will only be processed for invoices submitted for received purchase orders by Friday, October 25, 2024.
- The current supplier portal will be discontinued effective November 4.
- Details on the new Supplier Portal, job card, onboarding, training, and user guides will be communicated before November 4.
The bank urged stakeholders to take proactive steps to avoid business disruptions during this period.
