Indian Overseas Bank Restores Old Internet Banking After EdgeVerve System Glitch Disrupts Services

 

Indian Overseas Bank (IOB) has announced a rollback to its old internet banking platform after its recently upgraded system, developed by Infosys subsidiary EdgeVerve, faced serious technical failures. The revamped platform, launched over the weekend, led to widespread service disruptions and intermittent login issues, leaving customers unable to access their accounts smoothly.

According to a senior IOB official, the migration to the new internet banking system began on Saturday. However, within hours of deployment, customers reported persistent difficulties logging in, with the interface frequently going down. The official added that despite repeated follow-ups, EdgeVerve could not resolve these issues in time, prompting the bank to switch back to its legacy platform to ensure uninterrupted customer service.

The state-owned bank emphasized that the decision was made to prioritize customer convenience and restore normalcy in digital banking operations. "Our primary goal is to ensure smooth and secure access to internet banking services for all users," the official stated.

IOB has assured customers that all services have now been restored and that their accounts remain secure. The bank also confirmed that it has sought a detailed explanation from EdgeVerve regarding the system failure and is reviewing its options for future upgrades.

The incident underscores the challenges banks face while modernizing core digital platforms. With internet banking forming a crucial part of customer engagement, ensuring seamless digital banking experiences has become a top priority for Indian lenders. As digital banking adoption grows rapidly in India, this development serves as a reminder of the need for robust testing and contingency planning during technology migrations.