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Standard Bank warns of service interruptions

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Standard Bank customers will not be able to access some of the bank’s services from the afternoon of Friday June 16 through the weekend to Monday morning June 19 to facilitate the switch to a new banking platform to be launched on June 19.

During the switch over, all Standard Bank branches will remain closed from Saturday June 17 and reopen for business on Monday June 19 at 8:00am

In a statement, the bank said the interruptions will also affect ATM transactions as ATM cards will stop working from 4:00pm on Friday until Monday at 8:00am.

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Standard Bank says the interruptions are necessary to allow for a smooth transition to the new system and has asked its customers to make arrangements to have enough cash in advance to minimise the impact. Other services to be affected are debit cards, Business Online, online payments, and internet banking SMS alert.

Speaking earlier, Standard Bank Chief Executive Officer Andrew Mashanda said the new banking system, called Finacle, is a result of a year-long banking service delivery improvement initiative that will put Malawi at par with a growing number of Standard Bank operations using Finacle in Africa.

Mashanda said Finacle has been chosen to steer Standard Bank’s operations into a future where both bank and customers move together with technology and remain relevant to each other.

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“We are a bank that is leaving no stone unturned in our quest to provide relevant solutions to our customers. Finacle is a medium that will significantly improve the way we serve our customers and also improve their experience when they interact with the bank. We are making banking more personal, flexible and agile as we continue to move our customers forward,” he said.

He added that Finacle will usher in customised functionality of the bank’s services and products to customers in real time.

“During the move, account numbers will change, however, customers will be able to transact using their old accounts for a considerable period of time. Between now and June customers will receive information about progress of Finacle introduction and its benefits,” he said.

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