Government-owned Commercial Bank of Ethiopia (CBE) has selected technology from Swiss vendor Temenos for an overhaul of its operational infrastructure.
CBE - which has over 200 branches - has signed for the Temenos T24 core platform as well as mobile banking and anti-money laundering technology from the vendor.
T24 replaces seven current systems, including Misys Bankmaster and interfacing technology covering financial messaging and local money transfer, trade service and card banking.
CBE will also use Temenos Arc Mobile to help it tap the potentially lucrative unbanked market, offering m-banking services with advanced cash management capabilities including text alerts, interactive SMS and XHTML browser.
Ato Bekalu Zeleke, president, CBE, says: "The lack of flexibility and homogeneity in our current systems impacts product innovation, service delivery, risk management and cost control. Being able to replace all systems with T24 will deliver a single view of the business and customer and therefore provide a better understanding of our customers to improve services, enable us to effectively monitor and manage risk and lower our total cost of ownership."