Last weekend Steward Bank undertook a massive system upgrade. The bank said that it was switching to the more modern Temenos T24 R19 Core Banking System. This upgrade was, according to Steward bank, the biggest technology investment that parent company Cassava Smartech has made to date. Well, it seems like all hasn’t gone well according to what we have been hearing from Steward Bank customers. There have been reports of RTGS transfers taking more than a week to reflect in customer accounts.
Some of these transfers were reportedly made before the system upgrade and Steward had said that banking services were going to be disrupted. However, some of the bank’s customers are saying that transfers made this week haven’t yet reflected or are showing up days after they have been sent.
A Steward Bank customer sent us this message from the bank when they enquired about their transfer
“Dear Customer, please accept our apologies for delayed processing of your incoming RTGS. Please note your transaction will be processed within 24 hours.”Steward Bank
We all thought that Steward would have its house in order after the system upgrade. The bank promised that customers will enjoy seamless and easy transactions after the system upgrade was completed.
“We are confident the new system, which is the latest version on the market, will vastly improve the customer experience in that it is significantly faster and a lot more robust and stable than the old version. because the new system is scalable and flexible, it will enable us to offer more products and services to more customers on a very secure and modern banking platform”Courage Mashavave, Steward Bank CEO
It clearly looks like there are still yet some kinks to work out on Steward Bank’s end. And for as long as this persists, the bank’s image is going to plummet further. Hopefully they can get this issue sorted out post-haste.