THE Lesotho Post Bank is upgrading its core banking system with the goal of offering innovative products and service offerings such as SMS notifications and security features by 22 May 2017.
Lesotho Post Bank Managing Director Molefi Leqhaoe announced the system upgrade in a press conference yesterday, which he said was necessitated by the bank’s quest to improve service delivery to clients.
He said the project began in September 2016, describing it as a “giant leap” by the bank to fulfil its mission to provide modern banking services to its customers at affordable pricing.
The deployment of the system upgrade, Mr Leqhaoe said, would start on 19 May 2017, with all the bank’s branches closing at 5pm while the ATMs would be shut down at 7pm on the same day.
He said all banking services would resume at 7am on Monday 22 May 2017.
“The bank will not be available for all services for 60 hours while bank staff work around the clock during the period to ensure a smooth and seamless transition with minimum inconvenience and disruption to customers,” said Mr Leqhaoe.
He said the 22 May 2017 launch would follow months of meticulous planning and extensive work behind the scenes to ensure a seamless transition to the new, technologically-advanced operating system.
“The Lesotho Post Bank considers its IT (Information Technology) platform as one of the critical resources that will enable it to realize it goals. The legacy system, which is indeed old in IT terms, has limitations as regards functionality, versatility and flexibility.”
Mr Leqhaoe explained that the old system could not fully meet customer, business and regulatory requirements.
“It is for the above reasons that the bank took the decision to upgrade its core banking system.
“Some of the benefits of the system to customers include flexible customer centric products which are customisable to meet individual customer needs such as, SMS notification, security features to give the customer peace of mind.”
He said the new security features deterred would-be scammers from accessing the accounts of the bank’s customers. The system also requires pictures of account holders to ensure only the right people can access them.