Kasikornbank to shutdown for two-day tech upgrade

Kasikornbank to shutdown for two-day tech upgrade

Thailand's fourth-largest bank, Kasikornbank is to shut down all services for two days as it upgrades its banking platform.

The weekend-long downtime will affect all of the bank's channels, including mobile and branch, and all card services, except credit cards.

The move to suspend all services may seem drastic, but the bank is taking no chances following a lengthy and troubled core banking conversion project.

In July 2013 it booked up to Bt1.6bn impairment losses against a contract with Swiss vendor Temenos, as it decided to terminate the portion of the deal relating to deposits for its ten million customer accounts. It last year selected FIS' Profile package as as an alternative platform for deposit products.

In a notice on its Website, Kasikornbank advises customers to stock up on cash and push through important transactions as it goes dark over the 48-hour period, from 10pm on 17 July until 10pm on 19 July.

Comments: (1)

Tapan Agarwal
Tapan Agarwal - Intellect Design Arena Ltd - London 15 June, 2015, 14:27Be the first to give this comment the thumbs up 0 likes

Operational & Reputational risk mitigation does not mean that banks should shut down for 2 days for a technology upgrade. Asking customers to stock up on cash sounds like war time, when people had to stock up on rations :-) 

Its important that the Technology, Operations and Business team plan for such system upgrades by working on shadow balances / ATM switches in offline mode etc  till the new system comes back up....

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