First Bank has announced its transition to a new cloud-based procurement and financial platform as part of efforts to boost operational efficiency and improve service delivery.
The migration is scheduled to begin on Saturday, October 26, 2024, and is expected to cause temporary disruptions in services.
In a notice released on Wednesday, the tier-1 lender, which serves over 42 million customers, said the system upgrade would enhance its financial processes, but advised clients and vendors to prepare for a brief suspension of certain activities during the transition period.
“As part of the bank’s continuous investments to improve operational efficiencies and service experience, we will be transitioning to a new cloud-based platform that offers additional capabilities and benefits,” the bank stated.
The migration process is expected to last from October 26 to November 3, with normal operations resuming on Monday, November 4, 2024. During this period, vendors will not be able to submit invoices via the bank’s existing Electronic Business Suite, and payments will only be processed for invoices submitted by Friday, October 25.
First Bank also announced that its current supplier portal will be phased out by November 4, to be replaced by a new system. Detailed instructions on the transition to the new Supplier Portal, as well as onboarding and training materials, will be shared before the go-live date.
