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Business » Featured
National Bank struggles with new system
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By Gawo Sande, Nyasa Times |
December 3, 2011 · 25 Comments |
Despite assuring the public last week that it is on track to migrate to a new banking system, National Bank of Malawi is literally struggling to acclimatise to its newly installed bank software, the Temenos 24.
The system also known as T-24 in the banking circles was acquired by the bank 3 years ago but it has brought more misery than wonders expected by the bank.
By June this year National Bank had lost over K400 million in illegal ATM withdraw because of a system lapse because its IT officers are not up to date yet with the T-24.
Mzuzu National Bank branch
Information from the bank says that trouble started at Chancellor College when Computer Sciences students cracked a code and started withdrawing huge sums of money from the and the practice has gone viral with technical officer having trouble to contain the situation.
“This is embarrassing for a big bank like this one and the bad thing is that due to the losses being incurred by illegal withdraws management has decided to cut down employment as a way to balance up the costs, however it seems they are not willing to publicise that they are in this trouble as it might have massive drawbacks,” said an employee at the bank.
Apart from this, the bank is also failing to upgrade its online transactions to accommodate its new 10 digit account numbers when one wants to send money to the new accounts.
Officials at the bank, which is the largest by assets in Malawi were tight-lipped on the matter saying commenting on the issues would put their jobs on the line.
However, National Bank spokesperson Ane Magola said last week that customers are “benefitting” more from the T-24 which she praised as sophisticated enough to have changed its IT infrastructure.
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Tags: National Bank
25 Responses to “National Bank struggles with new system”
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pls it takes time to change things partcular when it comes to implements the new software in every bank i had similar problem in chicago and in newcastle uk so its not in malawi only.
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Replywhether they struggle or not with their new system, i love this bank. Am not just saying am speaking from experience. I hold accounts from several banks and my comparison have shown me that this bank is good. You cant compare tellers from standard bank and from this bank both in courtesy and in speed. Aqueue is a queue in national bank while it is hell in standard, fmb, nbs, msb ndiye nanji. Give the same deposit to an nbs or standard bank teller, one would wonder whether the money is hot or not. Kuli kuchedwa. The same deposit to a national bank teller its like knife through butter. Dont hate this bank chifukwa inakumananani ngongole .kukonda kubweleka amalawi ngati boma lanu bwanji? Put your house in order. Lastly thank you nbm 4 relaunching mo626. Our lives have changed alot.
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ReplySomething must be wrong with people employed in IT dept.these days people have travelled alot and are mingling with all sorts of crooked people.employ people who are computer whizz not just mere operator with some cheap computer paper.mukatere ndiye mwasiya chitsime cha anthu aku abuja ndi mbava zina zachimalawi kuti zikowe makobili.
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ReplySimunati a NBM!!!!!!!! mBAVA ZOPHUNZILA nde zilipoditu pa nyasalande. Konzani kaye kapansi kuti zinazi zitheke bsi
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ReplyThis bank has fucking machines who go for both staff and customers like hans muhome
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