12 July 2012

Nigeria: Ecobank Suspends Migration Over Customers' Outcry

Ecobank Plc on Thursday suspended, indefinitely, migration of former Oceanic Bank accounts from finacle to flexcube software.

The News Agency of Nigeria (NAN) gathered that the suspension was due to the inability of customers to access their funds.

Investigation by NAN revealed that the suspension was as a result of various threats from customers across the country, especially in the North.

The bank had resorted to Pasys, an application device, developed for posting in both Ecobank and the defunct Oceanic Bank database.

But customers of the defunct Oceanic Bank could not access their funds since the migration to the flexcube.

NAN gathered that while the Oceanic Bank was using finacle software, Ecobank is using flexcube.

According to a source, Ecobank began the migration to ensure uniformity in its banking application process.

Meanwhile, a competent source in the bank told NAN that the bank had completed the migration process, but reverted to the old application because of slow service.

"There is need to avoid further complaint by customers.

"The normal backup system is what the bank is currently using," the source, who pleaded anonymity, said.

The source explained that all the branches of the bank would be on flexcube when the service becomes active.

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