Indian Overseas Bank has rolled back its newly launched internet banking platform, reverting customers to the legacy system after critical technical failures disrupted logins and customer access. The platform, developed by Infosys subsidiary EdgeVerve, could not be stabilised quickly enough to remain operational.
IOB's official communication on social media instructed customers to return to the familiar legacy platform until technical issues are resolved. The decision marks an abrupt end to the bank's digital modernisation effort, at least temporarily.
The incident highlights the risks inherent in outsourcing critical banking infrastructure to third-party technology vendors. EdgeVerve's platform failed to meet the reliability standards required for production deployment on day one, forcing an emergency rollback.
For IOB's customer base, the reversion means temporary loss of new features offered by the modernised system, but restored access to the proven legacy platform. The disruption underscores how vendor readiness and platform robustness directly impact user experience in banking.
