Republic Bank (Guyana) Limited (RBGL) yesterday assured customers that their data remains secure despite the challenges they have faced after effecting changes to banking systems and says it expects to have the issues fully resolved by the middle of December.
Customers will welcome this news, as salaries and bonuses are usually paid earlier than usual in December.
The assurances were given via different platforms, customers being notified via a press release, and the Bank of Guyana (BoG) being advised via a letter dated 28th November 2019, signed by RBGL Managing Director, Amral F. Khan, and addressed to Ramnarine Lal, Bank Supervision Department.
A key assurance given to the BoG is that salaries (for November) “have been paid as at today’s date”. RBGL also informed the BoG that the changes to its systems do not require customers to replace their cards; that relevant customers have been advised of conversions of their accounts; and that queries are being addressed while the bank works to reduce wait time.
RBGL also took the opportunity to explain that the long lines at its various branches are the result of customers seeking resolution of developments they have already been informed of.
Last month, into early November, RBGL suspended several operations to make changes to its systems. Since these changes were said to have been completed, customers have, and continue to experience a plethora of issues in trying to access their accounts, and other services at the bank.
A major concern for many customers has been their inability to access the funds in their accounts over the last month.
Data Secured
Though RBGL has not expressly admitted it, it is widely believed that the changes to its systems is its response to a hack which occurred in May. In the aftermath of the hack, millions went missing from customers’ accounts.
In yesterday’s release, the bank unequivocally apologised to customers for the challenges encountered, which include “difficulty in accessing services through our new internet banking and mobile banking services, delays in processing of payrolls and wire transfers as well as lengthy delays in completion of some transactions in branch, inconsistencies with respect to the use of our various other electronic services such as our ATMs and POS services, and the need for more of our existing online banking clients to reestablish their utility payment instructions.”
RBGL pointed out, however, that “there have been no challenges with respect to the integrity of our data or the security of our new IT systems.” In fact, the bank declared that “both the data and infrastructure have been designed to satisfy the latest international standards re data protection and cyber security.”
The bank said that it was aware that the conversion process was complex, while admitting that many of the challenges being faced were unexpected.
Salaries paid
In the letter to the BoG, RBGL said that “all salaries have been paid as at today’s date”, and added that it implemented “four (4) processing options which we are utilizing to ensure customers access their salaries on time.”
RBGL also shared that it has “requested employers to submit their payroll three (3) days in advance to facilitate payments of their staff in the required payment date.” The bank explained that the “lead time” would allow it to rectify and process transactions on time in the event of any errors in the submission.
RBGL also informed the BoG that “employers who maintain accounts with the Bank can use our internet Banking service, Republic Online, to process payrolls
immediately and our teams continue to engage these entities to expedite signup.”
ATMs and POS usage
Some customers have also complained that they are yet unable to access the funds in their accounts although they are sure that they have a sufficient amount.
The bank, however, pointed out that “some customers’ account type (chequing/saving) was changed with the conversion”, and it says that it “has advised them of this.” In spite of this, however, RBGL says “many of them continue to choose the wrong account type when processing transactions which void the transactions, and this is causing anxiety on their part.”
This is not the full extent of the issues customers have been experiencing with ATMs, however. Just recently, Stabroek News reported that a customer complained that an automated teller machine (ATM) ‘ate’ his card, after which an RBGL customer service representative (CSR) explained to him that he must either wait until more than a week to get his card back, or cancel his card and pay $1,500 to get a replacement.
There was no explanation in the release or the letter on what is causing ATM machines to retain customers’ cards, nor was there was any reference to the alleged time customers are required to wait for replacements.
Regarding the account-type issue, RBGL explained that the result of this is that customers are “visiting our branches for a resolution and this is negatively impacting our lines in the Branch.” The bank assured the BoG, however, that “Communication is in place to direct customers to use the correct classification and we continue to work with them in this regard”.
Bank Cards
Several customers have also reported issues in using their cards. In the letter, RBGL said that “there is no need for customers to replace their existing cards unless it is damaged, the Pin is forgotten, or they are in possession of the expired Access24 card.”
The bank also said that “communication to customers is in place advising of this and we shall continue to engage them to clarify any misinformation, additional communication will also be explored.”
Queries and Wait time
Customers have also been complaining about the period of time which is required for them to successfully access services, including getting responses to queries.
On this subject, RBGL said “queries are being handled throughout the network and our Call Centre is set up specifically to handle customer concerns.”
We are working on reducing wait time to more manageable levels by educating customers and providing relevant information. We have also directed additional resources to the Branches to assist with processing customer requests which will have a direct impact on reducing turnaround time,” RBGL assured.
