First Bank has announced a transition to a new cloud-based procurement and financial platform, set to begin on Saturday, October 26, as part of its efforts to enhance operational efficiency and service delivery.
The bank, which serves over 42 million customers, cautioned that this migration could lead to temporary service disruptions. This move aligns with recent upgrades across the Nigerian banking sector, where multiple institutions have updated their core banking systems.
In a notice released Wednesday, First Bank stated, “As part of our continuous investments to improve operational efficiencies and service experience, we will be transitioning from our current procurement and financial platforms to a new cloud-based platform that provides additional capabilities and benefits.”
The migration period will last from October 26 to November 3, with normal operations expected to resume on November 4, 2024. During this time, certain activities and transactions will be suspended to facilitate a smooth transition.
Additionally, vendors will be unable to submit invoices through the current Electronic Business Suite during the transition. Payments will only be processed for invoices submitted for received purchase orders by Friday, October 25, 2024.
First Bank will also discontinue its current supplier portal on November 4, with details about the new Supplier Portal and onboarding procedures to be communicated before the go-live date.
The bank urged stakeholders to take proactive measures to minimize business disruptions during this critical transition period. Further updates on training and user guides will be provided by the end of the week.
