Access Bank has announced that it will temporarily suspend operations in order to optimise its customer offers through a system upgrade.
The bank made the announcement via an email to its customers on Tuesday, informing them that the upgrade will happen in stages, beginning at 10:00 p.m. on Saturday, October 12, and concluding at 6:30 a.m. on Sunday, October 13.
Customers may experience brief service interruptions on the Access More app, Internet Banking platform, and ATMs during this time, the bank stated.
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USSD *901# service as an alternative to Access Bank customers
The message read, “Dear Valued Customer, in line with our continuous drive to better serve you, we embarked on a comprehensive system upgrade to optimise the functionality of our systems.
“The upgrade exercise, which will take place in phases, starts on Saturday, October 12 at 10 pm to Sunday, October 13, 2024 at 6:30 am (West African Time).”
The bank did, however, reassure consumers that their cards will continue to work and that they may still pay their bills, transfer money, and purchase airtime and data using the *901# service.
“During this period, there will be a temporary service disruption on our Access More app, Internet Banking platform, and ATMs. However, your card will work seamlessly and *901# will be available for funds transfer, airtime, and data purchase as well as bill payment.
“Upon completion of this exercise, service across all channels will be fully restored,” the bank stated.
It also reaffirmed its commitment to provide clients with updates on the next stages of the renovation project.
Access Bank investment in technology contributes to its success
According to the banking firm in its first half (H1) report it released last month which demonstrated impressive growth in comparison to the prior year, Access Holdings PLC is accelerating income diversification and ensuring long-term sustainable value creation for its stakeholders by strengthening its banking and digital footprints.
In order to “significantly enhance operational efficiency across the group and strengthen our digital capabilities, allowing us to deliver superior services to our customers,” Access Bank said it plans to expedite the completion of its IT infrastructure to promote operational cooperation and reduce costs.
The bank credits its H1 2024 success to its investment in technology, which has led to an increase in transactions from digital channels, including mobile banking and card payments.
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The bank claims that despite large expenditures on IT upgrades, pressure from inflation, and currency devaluation, the cost-to-income ratio (CIR) held steady at 60.4 percent.
Revenue growth outpaced operating expenses to attain this stability, indicating that costs were well controlled in spite of growing operating expenses. Additionally, the fact that Access Holdings PLC’s generated income is sufficient to meet expenses indicates that the company’s new objectives to increase its digital reach are doable.
Additionally, the company’s non-interest income grew by 117 percent, from 333.4 billion, which may be attributed to a rise in the use of digital platforms for transactions.
The company’s remarkable financial outcomes, which prompted its planned digital expansion, were largely attributable to the synergy of its tech-driven initiatives, especially in digital expansion and IT infrastructure.
In addition to keeping it competitive, these technical developments have increased its revenue, especially in the areas of digital banking and payment services.
Access Holdings PLC seeks to generate significant value for its customers, workers, and shareholders by boosting operational effectiveness and developing digital capabilities. This will establish enduring connections and guarantee sustained growth that is advantageous to all stakeholders.
