Oromia Bank has selected CR2, one of the world’s leading software vendors in the digital banking and payments market, to accelerate and transform its digital banking strategy in the Ethiopian market. The official contract signing ceremony took place in The Sheraton Addis, with key company executives present to witness this landmark occasion.
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CR2’s digital banking platform – BankWorld – will enable Oromia Bank to enhance and improve their customer’s retail and corporate digital banking and payments experience and position Oromia Bank as one of the leading banks in Ethiopia. The highly 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 give the Bank the ability to easily design and launch a range of new products and services that meet the needs of various customer segments.
Ethiopia has proven to have a large appetite for digital banking which, given the country’s young demographic, is no surprise. With extensive mobile network connectivity throughout Ethiopia, which is the second most populated country in Africa, the country is at present going through huge digital banking transformation and now is the perfect time for Oromia Bank to embark on their own digital transformation strategy.
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Chief Executive, 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.”
Mr. Teferi Mekonnen, CEO of Oromia Bank commented:
“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.”
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