Indian Overseas Bank reverts to old internet banking after new system fails

IOB restores old platform after technical failure in revamped system developed by Infosys subsidiary EdgeVerve disrupts services and login access for customers

State-owned Indian Overseas Bank on Wednesday informed its customers that it is switching back to its old internet banking system due to technical failure in the bank’s revamped internet banking facility and the inability of the vendor, Edgeverve, a wholly owned subsidiary of tech giant Infosys, to address it in a timely manner.

 

A senior official at the bank told Business Standard that it had migrated to the new internet banking system on Saturday and since then, customers were facing login issues as the login interface was going down intermittently.

 

He added that the bank has already asked Edgeverve to resolve the issue at the earliest but the company could not deliver, so the bank has reverted to the old system for the time being till the real issue can be identified.

 

“Due to technical failure of Edgeverve (Infosys) for the revamped Internet Banking and their inability to address it timely, we are forced to go back to the old Internet Banking system. We regret the inconvenience”, IOB said in a message to its customers.

 

The public sector bank had deployed Edgeverve to revamp their internet banking services. The scope of work involves the Digital Engagement Hub and Online Banking solution (Internet Banking), and includes upgradation, integration, customization, development, testing, and maintenance support for the application.