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The bank clarified that it had initiated the Finacle upgrade move almost one-and-a-half-year back and since database size of the bank is among the largest among Indian banks.
Mar 17, 2018, 08.42 AM IST
MUMBAI: State-run lender Punjab National Bank (PNB) in a clarification has said that it is not facing issues regarding upgradation of its core banking system from Finacle 7 to Finacle 10. ET had reported on March 13 that PNB was facing technologyrelated issues at its branches and ATMs due to the upgrade.
The bank clarified that it had initiated the Finacle upgrade move almost one-and-a-half-year back and since database size of the bank is among the largest among Indian banks, several things had to be achieved prior to the planned upgrade.
“During the last one-and-a-halfyear period, since the conceptualisation of upgradation to Finacle 10 involves a lot many activities, including several rounds of testing, end-user trainings and several rounds of mock drills to inculcate the confidence of the end user in the branches across the country,” the bank said in a statement.
“The final rollover was completed on January 26, 2018, and branches across the nation have been working on the new system since January 29.”
The bank is conducting around 1.47 crore transactions per day on Finacle 10 as against 1.20 crore prior to the migration.
PNB also added that majority of the customer facing applications were working smoothly since the first week of live operations.
“However, as is the case with any software upgrade of this gigantic scale, some minor glitches were faced in initial weeks which have since been resolved and our operations are back to near normal,” it added.
The bank also decided to migrate the ATM switch platform, work on which started in January this year and was completed by March 4.
The bank clarified that it had initiated the Finacle upgrade move almost one-and-a-half-year back and since database size of the bank is among the largest among Indian banks, several things had to be achieved prior to the planned upgrade.
“During the last one-and-a-halfyear period, since the conceptualisation of upgradation to Finacle 10 involves a lot many activities, including several rounds of testing, end-user trainings and several rounds of mock drills to inculcate the confidence of the end user in the branches across the country,” the bank said in a statement.
“The final rollover was completed on January 26, 2018, and branches across the nation have been working on the new system since January 29.”
The bank is conducting around 1.47 crore transactions per day on Finacle 10 as against 1.20 crore prior to the migration.
PNB also added that majority of the customer facing applications were working smoothly since the first week of live operations.
“However, as is the case with any software upgrade of this gigantic scale, some minor glitches were faced in initial weeks which have since been resolved and our operations are back to near normal,” it added.
The bank also decided to migrate the ATM switch platform, work on which started in January this year and was completed by March 4.
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