Nigeria's largest bank by assets, Access Bank, has faced criticism after its phased core banking upgrade caused service disruptions, contradicting its promise of a seamless transition. The bank had hoped to avoid the catastrophic core banking upgrades that plagued other commercial banks in 2024, such as GTCO, Sterling, Zenith, and FCMB, which resulted in weeks of service downtime. However, despite its efforts, many customers are still experiencing frustrating glitches, including issues with transaction history and app functionality.

The final stage of Access Bank's upgrade, an enhancement of its existing Oracle Flexcube platform, was completed on February 23, 2025, following a temporary downtime of its digital services from 2 AM to 1 PM. The bank had expected that its phased approach would minimize disruptions, but customers have reported ongoing problems. Michelle, a customer, reported that she couldn't see her transaction history, while Afeez Tunde, another customer, couldn't even open his bank app. Chioma Alex, a trader based in Lagos, complained that her USSD transactions kept failing for two days after the upgrade.

A bank employee familiar with the upgrade explained that the phased approach was intended to address the diverse markets and operational complexities of the bank's customer base. However, despite this effort, the upgrade has fallen short of expectations. The bank has not publicly addressed the complaints, and a spokesperson did not immediately respond to requests for comment.

The upgrade is part of Access Bank's broader push for digital transformation, with the bank allocating ₦68.62 billion ($51.3 million) – 20% of its latest capital raise – to technology infrastructure. With over 63 million customers across several African markets, the lender is betting big on digital expansion. However, the real test is whether these investments will translate into reliable service.

The lesson for banks racing to modernize is clear: system upgrades aren't just about infrastructure – they're about the people who rely on them. As Access Bank and other financial institutions invest heavily in digital transformation, they must prioritize the customer experience and ensure that their upgrades do not compromise service reliability.

The incident serves as a reminder that even the most carefully planned upgrades can go awry, and that banks must be prepared to address customer concerns promptly and transparently. As the banking industry continues to evolve, it is crucial that institutions prioritize the needs of their customers and invest in technology that enhances, rather than disrupts, their services.