Oromia Bank selects BankWorld to enhance its digital banking transformation strategy in Ethiopia

By Edlyn Cardoza

CR2’s digital banking platform – BankWorld – will enable Oromia Bank to enhance and improve its customer’s retail and corporate digital banking and payments experience and position Oromia Bank as one of the leading banks in Ethiopia. The configurable and flexible capabilities of CR2’s platform will help the bank roll out a range of off-the-shelf functionality and drive innovation. This will allow the Bank to easily design and launch a range of new products and services that meet the needs of various customer segments.

Given the country’s young demographic, Ethiopia has proven to have a large appetite for digital banking. With extensive mobile network connectivity throughout Ethiopia, the country is undergoing a huge digital banking transformation.

Chief Executive Officer, CR2, Fintan Byrne, commented, “We’re delighted to have been selected by Oromia Bank to partner with them on their digital banking transformation. This is a significant win for CR2 as we continue to expand our presence in Ethiopia and build on our already existing relationships within the market there. It’s clear that the Ethiopian market is an extremely dynamic one and we’re pleased to be at the heart of the exciting developments within a truly unique and vibrant market.”

Teferi Mekonnen, CEO of Oromia Bank, said, “This investment in omni-channel digital banking technology will significantly update the bank’s infrastructure and enables a broad range of payment capabilities through digital means. Our banking and payments experience will be fast, modern, easily accessible to all segments within urban and rural communities, and very convenient to use. Our adoption of this technology will significantly contribute to the development of our country’s digital transformation and help bring the unbanked into the banking economy.”

Recently, IBS Intelligence reported that Mosul Bank had selected CR2 to accelerate its digital banking transformation strategy in the Iraqi market. CR2 will see Mosul Bank offering a more advanced digital banking service to the Iraqi retail and corporate banking market across mobile and internet access points.