Firstbank Migrates to Finacle 10

First Bank of Nigeria Plc (FirstBank) has concluded plans to migrate its current core banking application, Finacle 7 to a more robust and secure platform, Finacle 10 in a bid to serve existing and prospective customers better.


The Bank’s management said this upgrade from Finacle 7 would transform its service delivery process and facilitate the introduction of innovative products specially designed for different customer segments.


According to Folake Ani-Mumuney, head, Marketing and Corporate Communications, the decision to upgrade to Finacle 10 was borne out of the desire for continuous improvement, adding that the new platform will simplify end-user interfaces, support the latest database technologies and improve functional and operational capabilities.


Ani-Mumuney said the bank’s Finacle 10 platform would also drive multi-entity operations as it is capable of supporting new lines of business, including wealth management, financial inclusion, and Islamic banking.


“A periodic review of our service delivery process to seek ways of enhancing customer experience is an activity that we are passionate about in FirstBank. With Finacle 10, the Bank is even better positioned to offer improved customer service, easy access to account details, enhanced customer experience with a platform that allows the customer transact in multiple currencies with a single reference/account number,” she said.


The bank’s spokesperson said the leading financial institution continues to invest heavily in technology in its bid to drive service excellence and product innovation across its branches and electronic channels.


“The bank has significantly improved the reliability of its delivery systems and deployed new products to simplify the process of banking with FirstBank. Another key area of our IT dominance is in the empowerment of our employees with new tools to facilitate work in and out of the office. This ensures speedy response to customer requests, while giving all tiers of management hitch-free access to qualitative and timely information for decision-making’, she added.