Enat Bank is about to complete conducting pilot program on core banking solution which it procured for 15 million Birr, Addis Fortune reported.

Enat was one of the two remaining banks which were given a deadline June 30, 2015, from Central Bank to deploy the solution. Debub Global Bank deployed the solution ahead of the deadline.

Enat bought the Flexcube solution which was made by Oracle.

All of Enat bank’s seven branches are going to be networked by the system. The bank has 15,000 account holders in its two branches in Addis Ababa and five branches in Adama, Bahirdar, Hawassa, Mekelle and Dire Dawa.

Birtukan Geberegzi, Operations Vice President of Enat Bank said, there was a delay in the implementation of core banking solution because the bank is new, thus requested the National Bank of Ethiopia (NBE) to extend one year for the completion of the solution.

E-banking services such as mobile, agent and internet banking will be started following the implementation of the core banking system, Ermias Andarge, Vice President of Corporate Services.

Eighteen banks are already using core banking solutions.

Enat’s current paid up capital is 400 million Birr and has 11,000 shareholders.

Source: Addis Fortune